Alexander Darwall will step down as manager of Jupiter European on 1 October 2019. He will leave the group in order to set up his own fund management business.
Mark Nichols has today joined Jupiter from Columbia Threadneedle, with the intention he'll take over management of the fund once Darwall leaves. The managers will work together closely until that point, and we expect a smooth transition between the two managers.
Nichols has experience of investing in European companies since 2001. He worked at Threadneedle from 2015, and was co-manager of the European Select fund from 2016. He favours quality stocks with a consumer bias – companies which have a competitive advantage over their peers. We don't expect him to make significant changes to the fund in the near term, but over time he will inevitably put his own stamp on the portfolio.
We don't think investors need to take any action at this time providing the fund still meets their objectives. We intend to speak to Nichols over the coming months to find out more about his plans for the fund, and at this point we'll update investors with our views.
The fund doesn't currently feature on the Wealth 50 list of our favourite funds.