Jupiter Fund Management (JUP.L) announced on Wednesday that Alex Savvides will assume management of its £1.6 billion ($2.04 billion) UK Special Situations Fund on October 7. This transition comes as current manager Ben Whitmore delays his departure to ensure a smooth handover. Originally set to leave this summer to launch his own boutique fund management firm, Whitmore will now stay with Jupiter until at least October 31.
Joining Savvides at Jupiter will be former JO Hambro Capital Management colleagues Stephanie Geary and Siddharth Sukumar, who are expected to start in late July. Jupiter also indicated it will announce its long-term plans for the £790 million Jupiter Global Value Unit Trust, also managed by Whitmore, later this year. The firm will consider whether it would be beneficial for clients if Whitmore’s new firm manages the fund as a delegated investment manager for Jupiter.