Manager exodus and fund closures as Jupiter AM conducts review

A "period of sustained underperformance" and "significant outflows" led the firm to conduct a review of the Jupiter Absolute Return fund, which resulted in the decision to appoint the Jupiter multi-asset team as managers of the fund from 1 January 2021. In a statement, the firm announced it would "retain the core proposition" of Clunie's fund but would take the opportunity to "review aspects of the investment process" while maintain the investment objective. Commenting on Clunie's departure, Ben Yearsley, director, Fairview Investing, said the problem with the absolute return fund lay...