Jupiter UK Growth Investment Trust PLC Appoints Richard Buxton as Lead Fund Manager
February 18, 2020 at 08:00 pm IST
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Jupiter UK Growth Investment Trust PLC announced that it has reached an agreement with Jupiter Asset Management Limited for Richard Buxton to assume lead fund management responsibility for the company. He will be supported by Errol Francis and Ed Meier, who have worked with Richard over many years. This follows the announcement by the board on October 4, 2019 that the company had decided to review its investment strategy following a period of poor performance. This was comprehensive exercise which considered various alternatives, including the adoption of an alternative manager from within Jupiter, the appointment of another fund management company as investment manager and the liquidation of the Company together with rollover into another listed investment company. The conclusion to appoint Richard Buxton meets the board's strategic objectives and follows the announcement by Jupiter on February 17, 2020 regarding its proposed acquisition of Merian Global Investors Limited. He will assume lead fund management responsibility following approval of the transaction by Jupiter's shareholders and regulators which is expected to take place before the end of April. Current fund management arrangements with Jupiter will be on-going until his appointment. He joined Merian as head of UK equities and manager of the Merian UK Alpha Fund in 2013. He was also the firm's CEO between August 2015 and January 2019.
Jupiter UK Growth Investment Trust PLC is a United Kingdom-based investment trust. The Company's investment objective is to focus on capital appreciation from holding predominantly listed investments. The Company's principal activity is portfolio investment. The Company's United Kingdom equity portfolio combines core holdings of large-cap stocks, which pay dividends and various smaller growth stocks. The Company focuses on investing in a range of sectors, including oil equipment, services and distribution; industrials metals and mining; aerospace and defense; electronics and electrical equipment; household goods and home construction; pharmaceuticals and biotechnology; food producers; real estate, and non-life insurance. The Company focuses on investing in geographies, including the United Kingdom, Europe, and North and Latin America. Jupiter Asset Management Limited is the Company's investment advisor.