Jupiter Merlin to Retain £480m Investment in Global Value Fund Amid Whitmore’s Departure

Jupiter Merlin's decision to maintain its full £480 million investment in the Jupiter Global Value SICAV fund following Ben Whitmore's departure underscores the team's confidence in the strategy's continued success. With portfolio manager Brian McCormick stepping in to lead the fund, Jupiter Merlin aims to uphold its commitment to delivering strong value-oriented returns for investors.

McCormick's proven track record and impressive performance in managing global value portfolios further reinforce Jupiter Merlin's conviction in the fund's future prospects.

Transition of Management and Performance Insights

Brian McCormick, slated to take over management of the Jupiter Global Value fund upon Whitmore's exit, has demonstrated exceptional proficiency in managing global all-cap value portfolios for Jupiter Merlin funds. During his tenure, McCormick delivered impressive returns of 47.4% in US dollars, outperforming key benchmarks such as the MSCI ACWI Value index by 26.2% and the MSCI AWI index by 11.1%. Dan Lewis, co-head of the Jupiter Merlin team, expresses confidence in McCormick's capabilities, emphasizing his role as an up-and-coming value investor.

Strategic Considerations and Investor Confidence

Despite initial concerns following Whitmore's departure, Jupiter Merlin's decision to retain its £480 million investment in the Global Value strategy reflects a strategic commitment to maintaining stability and continuity for investors. Lewis's statement during an investor roadshow, where he indicated consideration of withdrawing over £1 billion from funds managed by Whitmore, highlights the importance of ensuring investor confidence amidst transitions.

Jupiter's Recent Developments and Industry Response

Jupiter's quarterly update revealing £1.1 billion in investor withdrawals from its value equity strategies underscores the broader challenges facing the value investing landscape. However, Jupiter's appointment of ARGA Investment Management by Alliance Trust's investment manager Willis Towers Watson reflects ongoing industry shifts following Whitmore's departure, illustrating the ripple effects of key personnel changes within asset management firms.

Jupiter Merlin's decision to retain its significant investment in the Global Value fund and entrust Brian McCormick with portfolio management signals a strategic transition aimed at preserving investor confidence and driving continued success in value-oriented investing.