Jupiter's Herbert replaces de Fonclare on European Income
Jupiter's Gregory Herbert has been promoted to manage the group's European Income fund, taking over from Cédric de Fonclare.
Herbert, who took over management of the European portion of the Jupiter Global Managed fund in January 2012, has assisted de Fonclare (pictured) in managing European Income, European Special Situations and the European Opportunities SICAV since 2007.
De Fonclare will remain as deputy manager on the £35m European Income fund, which has returned 21.7% over the year to 15 March versus an average return of 21.1% for the IMA Europe ex UK sector, according to Morningstar.
Over three years the fund has lagged peers, returning 14.9% compared with a 20.2% return for the sector, but de Fonclare has outperformed since he took over the fund in July 2011.
In that time has returned 14.5% compared with a sector average of 11.8%, according to Jupiter.
"Cédric's performance record has enabled him to establish a strong following among fund buyers and it is pleasing that Gregory has developed considerable skill in his own right as an analyst and fund manager since joining the team," said Jupiter's CIO John Chatfeild-Roberts.
"We are delighted to be able to recognise this by extending his fund management responsibilities."
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