The key management changes under the Jupiter/Merian merger

Several managers join from Merian

The key management changes under the Jupiter/Merian merger
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Jupiter Asset Management has revealed the full outline of its future product range and UK distribution team following its acquisition of Merian Global Investors earlier this year.

The "Product Roadmap" sees expansion in the UK equities market, integrating multiple Merian strategies into the firm's offering.

The Richard Buxton-managed Merian UK Alpha strategy, supported by Ed Meier, Errol Francis and James Bowmaker will join Jupiter, along with the funds under their management.

Also making the move is the Merian Small and Mid-cap strategy, managed by Dan Nickols and Richard Watts, with Merian fund managers Tim Service, Luke Kerr and Nick Williamson supporting them, while Jupiter's own UK small cap equities fund manager Matt Cable will join the team.

Merian UK Specialist Equity fund, managed by Tim Service, and Merian UK Opportunities fund, managed by James Bowmaker, bring new UK long/short exposure and round out the UK equities products.

Elsewhere in equities and alternatives, Merian Global Systematic Equities strategy will become part of the Jupiter offering, managed by Ian Heslop, Amadeo Alentorn and their team, adding a "new approach" to active equity investment for the firm, according to Jupiter.

The team also carries the Merian Global Equity Absolute Return (GEAR) with them, bolstering Jupiter's alternatives proposition. Additionally, the Merian Strategic Absolute Return Bond fund will become part of Jupiter's product suite, managed by Mark Nash and Nicholas Wall, marking the fund house's first foray into the alternative fixed income space.

Ned Naylor-Leyland and his team will transition to Jupiter, bringing their Merian Gold & Silver fund, while the Merian Chrysalis Investment Company, subject to board approval, will expand the firm's closed-ended trust offering, managed by Richard Watts and Nick Williamson.

Already holding assets under management of around £10.7bn, Ariel Bezalel's fixed income strategy will see Jupiter managers Harry Richards and Adam Darling take the lead on Merian's credit focused strategies, including the Merian Corporate Bond fund, while financials specialist Luca Evangelisti will manage the Merian Financial Contingent Capital fund.

Emerging market debt will be expanded to incorporate the Merian EMD funds, with Jupiter's own Alejandro Arevalo taking charge of these, supported by assistant fund manager Reza Karim. From Merian joins assistant fund manager Patty Cao, whose appointment brings Jupiter's dedicated EMD team to five.

On the equities side of global emerging markets, fund managers Nick Payne, Salman Siddiqui and Liz Gifford all join from Merian, bringing a ‘Quality Growth' style that is "distinct" from Jupiter's own ‘Unconstrained' approach, currently led by Ross Teverson. Products in this asset class include Jupiter India fund, managed by Avinash Vazirani and Jupiter Emerging European Opportunities fund, managed by Colin Croft, which will all be overseen by Payne and Teverson as co-heads.

Jupiter's Mark Heslop, European Smaller Companies fund manager, will take on the Merian European (ex-UK) Smaller Companies fund.

The UK distribution team will also be bolstered by the merger, with several individuals joining from Merian, although this will also see Jupiter members leave the firm.

Joining from Merian are John Shepherd and John Morrison, who will both take the role of director, London, while Nick Pearse will join as director, Midlands and Channel Islands. David Hill will have a remit of North, Scotland, Ireland & IOM as a director, while Sebastian Oxley joins as sales manager for South East and Greater London and Luke Matthews rounds out the appointments as business development manager.

Leaving the firm are Rupert Bonsor, Paul Faragher, David Brown and Andy Hanson, which Mark Thomas, head of UK, described as "very difficult decisions" and wished them well for the future.

Fairview Investing co-founder Ben Yearsley said: "It is disappointing that Lloyd Harris, manager of the Merian Corporate Bond fund, is not joining the combined business.

"With my Shore Financial hat on, we started buying the Merian Corporate Bond fund last summer and have built up a c. £5m position. Lloyd and his team were key to that purchase.

"Overall, I am surprised there are not more departures from the combined entity as there is definite overlap in many areas."

Jupiter CIO Stephen Pearson said: "Jupiter and Merian have a strong cultural alignment with active, high conviction investing driving decisions on portfolio construction and management. We believe our newly combined product line-up offers clients an opportunity to access some of the best active funds available, manged by a world class fund management team.

"This acquisition will significantly enhance Jupiter's investment capabilities. Not only have we expanded our fund range to include attractive new propositions such as Global Systematic Equity and Liquid Alternatives, but we have also been able to add scale to areas where we are seeing increasing demand from investors, in fixed income and emerging market debt.

"Jupiter has always prided itself on the breadth and depth of expertise and products we are able to offer clients. The addition of Merian further extends this range, offering a strong, well-diversified line-up of active, high-conviction and high-performing investment strategies."

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