UK equity manager Harrington leaves Jupiter

Patrick Harrington, manager of Jupiter’s £91m Undervalued Assets fund and its £100m Fund of Investment Trusts, has left the company.

Harrington will be replaced on Undervalued Assets by Steve Davies, deputy manager of the £669m Jupiter UK Growth fund. Richard Curling, manager of the £46m Jupiter UK Smaller Companies fund, will take over the Fund of Investment Trusts.

Curling will also take Harrington's place as co-manager of the £66m Jupiter Monthly Income fund, alongside Ariel Bezalel.

Harrington joined Jupiter in February 2009 to take over Undervalued Assets from Edward Bonham Carter, having previously worked on the UK equity team at OLIM. He also previously worked at Henderson Global Investors and M&G.

Undervalued Assets has returned 33.4% over the three years to 20 January, versus an IMA UK All Companies sector average of 57.2%, according to Morningstar. Over one year it has fallen 9.7% versus a sector loss of 2.7%.

The Fund of Investment Trusts, meanwhile, has returned 63.8% over the past three years versus an IMA Global sector average of 40%. Over one year it has lost 12.3% against an average loss of 4.4%.