21 November 2023 - Jupiter Asset Management has recruited GAM’s Adrian Gosden and Chris Morrison to join the company, bringing with them their co-managed UK Equity Income fund. The pair, who join in 2024, will also take on the management of the £1.5bn Jupiter Income Trust, which has been managed by Ben Whitmore for the past decade.
Gosden is a well-known UK equity income fund manager, having previously co- managed the Artemis Income fund. He left the firm to launch the GAM UK Equity Income fund – a concentrated multi-cap income vehicle -back in 2017.
The fund will be managed by Jupiter through a sub advisory agreement until officially moving to Jupiter sometime in 2024. Gosden and Morrison will also take over the Jupiter Income Trust at some stage next year.
Darius McDermott, managing director of Chelsea Financial Services, commented: “Adrian Gosden is one of the leading managers in the UK equity income space, having first played a role in building the strong Artemis Income franchise and more recently at GAM. It’s also a great addition to the Jupiter stable, with the pair taking on the Income Trust which, during its time under the management of Anthony Nutt, was the flagship offering for the asset manager – although it should be noted that performance under Ben Whitmore has also been strong in recent years.
“It is possibly the best outcome for all parties. There is no surprise to see some big names leave GAM following the failed Liontrust bid. But the decision for the fund to also follow means existing investors do not need to worry, while those invested in the Jupiter Income Trust will see an experienced manager appointed, with a similar value approach to Ben Whitmore.”
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