On 11 October 2024, the name of the Jupiter UK Special Situations fund changed to Jupiter UK Dynamic Equity.

On the same day, the management of the fund formally transferred from Ben Whitmore to Alex Savvides as lead manager.  Mr Savvides was previously the fund manager of JOHCM UK Dynamic, and his departure from the firm was announced in January 2024.  Please see our previous bulletin for further information.

Given our knowledge and understanding of Mr Savvides’ skills and experience, we chose to retain Jupiter UK Special Situations on our Recommended list during this period of change.  Although there is no change to the fund’s formal investment objective and policy, Mr Savvides will manage the fund according to his own investment approach.  Like Mr Whitmore, Mr Savvides seeks to invest in undervalued companies and, while both funds displayed clear “value” characteristics, historically, Jupiter UK Special Situations has been positioned more definitively on the value side of the style spectrum.

Mr Savvides’ previous colleagues at JOHCM, Stephanie Greary and Siddharth Sukumar, joined Jupiter in July and they have been working alongside Mr Whitmore and his team, undertaking their own work on the portfolio names ahead of Mr Savvides’ arrival.

We are in the process of updating our own factsheet as this change occurs and look forward to engaging with the team shortly.  In the meantime, the newly named Jupiter UK Dynamic Equity fund remains on our Recommended list.