Alexander Darwall will leave Jupiter Fund Management to set up his own fund house, Devon Equity Management, and is set to take the £985m Jupiter European Opportunities investment trust (JEO) he runs with him.
Jupiter announced yesterday evening (1 July) that Darwall had taken preparatory steps to "fulfil a long-held ambition [and] launch a small investment management business". Darwall has agreed not to compete with Jupiter in the UCITS market for a period of two years. However, a separate stockmarket filing from the trust noted its board had "decided to investigate the possibility of appointing Devon to advise on its investment portfolio". "[The board] has instructed its professional advisers to assist in a due diligence exercise and to consult with its shareholders," it added. "The board...
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