Jupiter European gets a change of team

21 November 2024 — Jupiter Asset Management has recruited GAM’s Niall Gallagher, along with his team of Christopher Sellers and Chris Legg, to take on management of Jupiter’s existing range of European equity funds. Management will include Jupiter’s flagship Jupiter European fund, which has been managed by Mark Heslop and Mark Nichols since 2019. The £2.5bn fund is currently in the IA Europe Excluding UK sector’s bottom quartile over one, three and five years.

Darius McDermott, managing director of Chelsea Financial Services, commented: “Mark Heslop and Mark Nichols are both accomplished fund managers who, for the majority of their tenure, have had to navigate an environment where quality growth investing has been largely out of favour. However, their funds have underperformed peers with similar styles.

"Given this is a consistent period of underperformance, we understand why Jupiter have made the difficult decision, in their opinion, to act in the best interests of their clients, by replacing the current team and appointing managers from GAM. The incoming managers bring a strong track record of top-quartile performance across multiple timeframes through what has been a tough market for European equities.”

Niall Gallagher and his team have a combined investment experience of more than 60 years and currently manage around £1.4bn of European equity strategies for both institutional and retail clients. They will join Jupiter in spring 2025 to ensure a seamless transition process.

Given the strength of the new management team, we continue to view the Jupiter European fund as a buy.

Past performance is not a reliable guide to future returns. You may not get back the amount originally invested, and tax rules can change over time. The views expressed are those of the author and fund managers and do not constitute financial advice.