Following the news that Ross Teverson, manager of the Jupiter Global Emerging Markets fund, is leaving the firm, we have removed it from our service.

The fund featured on our Positive Watch list and the strategy was notable for its all-cap nature and exposure to some of the less developed emerging markets.  This, combined with the team’s focus upon changing and improving situations, meant that the outcome tended to be more variable when compared to other funds in the sector.  These characteristics also meant that the fund struggled to attract new flow.

Henceforth, Nick Payne, who joined Jupiter as a result of the firm’s acquisition of Merian Global Investors in 2020, will lead the global emerging markets team and take on the Jupiter Global Emerging Markets fund.  It will be aligned with his approach, which is to invest in high quality companies (defined as profitable and compounding, with a competitive edge) that are seen as long-term value creators.

We have met Mr Payne on several occasions, and we have a positive view of his existing fund, the Jupiter Global Emerging Markets Focus fund.  Following these changes, we will make a re-assessment with a view to refreshing our recommendations.