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Post by Fletchsmile on Apr 2, 2019 15:45:30 GMT 7
Bit annoying 
I've held Darwall's Jupiter European fund for years - close to 2 decades, and he's been a great consistent outperformer. Maybe it's an age thing or the vintage of my portfolios, but with the potential loss of Woodford, that's 2 of my previous no-brainer pick them selves funds I could be losing this year. (Woodford already being reduced in my portfolio and on a watchlist for how he does this year, whether to cut completely or reduce further)
Still possible to get expsoure though via JEO - his smaller investment trust run along similar lines and similar exposures. I currently hold this as well. But a much smaller amount.
I'm not quite sure what to think and what it means - if anything - that they've left him in charge of the much smaller JEO investment trust, but replaced him at the larger unit trusts. The UT versions will generate more revnue for Jupiter group, so are arguably more important to their groups profits and successes. If succession planning is a factor, maybe they attach less importance to JEO than their bigger money spinners. Or maybe he's reluctant to move on and this was a concession he can keep. Seems a bit odd though given how similar Jupiter European and JEO were.
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Jupiter hires Columbia Threadneedle star to replace Darwall on £7.7bn fund duo
By Rudi Abdallah 01 Apr, 2019 at 11:41
Alexander Darwall is to step down as head of Jupiter's European Growth strategy and manager of two multi-billion funds.
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Post by Fletchsmile on Jun 13, 2019 16:23:29 GMT 7
I've been thinking about replacing Jupiter European over the last few weeks. I've held it for around 20 years or so and done well with it. I hold it in both my ISA and SIPP. Decided today to switch the smaller holding in my SIPP to Fidelity European Dynamic Growth. It's Europe incl.UK rather than ex UK like Juipter, but that doesn't really bother me either way. I've held Fidelity European funds in the past, and it's an area they often fo well in as Fund Management Company, as well as Fidelity being a decent FM Co.. This one is 3rd out of 168 European UTs across bothe ex and incl.UK. Just one place behind Jupiter. The fund manager has been in place over 10 years, and somewhere around 20 years into his career. So younger than Darwall with hopefully a longer shelf life. Charges are a bit higher than I'd like but then again so was Jupiter, at just over 1%. Europe can be a market where the right active investment has a reasonable chance of exceeding passive long term. Like I did with Jupiter European. Focus is on medium size companies of EUR 1bn to 10bn, which I think offer better growth prospects than the Euro large caps I don't attach too much importance to Trustnet's scores, but they get a look. 5 crowns vs only 4 for Jupiter. Not quite sure why Jupiter only gets 4. FE risk of 113 vs 124 Performance has been consistently 1st quartile over 1yr,3yr,5yr etc and each of the last 5 discrete 12 month periods was ahead of its peers www.trustnet.com/factsheets/o/k5li/fidelity-european-dynamic-growth-w-gbpI went for accumulation units as it won't be touched for 5 years or so, and I can't be bothered with admin/tracking distributing units for my SIPP. ================================================================ I still haven't decided what to do with my larger ISA holding. JEO investment trust is still a possibility as still mamaged by Darwall. But still not sure why the changes are being made, he is in his 50's. As an IT the platform fee for JEO with HL is capped based on max value of 10k max, so it would actually be cheaper to hold than the Juptiter European UT for me. |
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chiangmai
Crazy Mango Extraordinaire
Posts: 6,256 
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Post by chiangmai on Jun 20, 2019 2:17:38 GMT 7
It is sheer coincidence that I had been looking to take a small holding in a European fund in order to balance my asset allocations, Jupiter had been pencilled in but I was left feeling uncomfortable by the continued press reports about the FM. Fidelity European Growth had been a strong second choice which I finally bought into last week, just in time for Draghi's press announcement about more stimulus.....happy days.
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Post by Fletchsmile on Jul 2, 2019 18:40:11 GMT 7
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Post by Fletchsmile on Jul 2, 2019 20:56:41 GMT 7
================================================================= Alexander Darwall to step down as manager of Jupiter EuropeanKate Marshall | Tue 02 July 2019 Alexander Darwall will step down as manager of Jupiter European on 1 October 2019. He will leave the group in order to set up his own fund management business. Mark Nichols has today joined Jupiter from Columbia Threadneedle, with the intention he'll take over management of the fund once Darwall leaves. The managers will work together closely until that point, and we expect a smooth transition between the two managers. Nichols has experience of investing in European companies since 2001. He worked at Threadneedle from 2015, and was co-manager of the European Select fund from 2016. He favours quality stocks with a consumer bias – companies which have a competitive advantage over their peers. We don't expect him to make significant changes to the fund in the near term, but over time he will inevitably put his own stamp on the portfolio. We don't think investors need to take any action at this time providing the fund still meets their objectives. We intend to speak to Nichols over the coming months to find out more about his plans for the fund, and at this point we'll update investors with our views. The fund doesn't currently feature on the Wealth 50 list of our favourite funds www.hl.co.uk/funds/research-and-news/fund-news--and--alerts/alexander-darwall-to-step-down-as-manager-of-jupiter-european?cid=halDM76914&bid=326577346&e_cti=87194&e_ct=T&utm_source=AdobeCampaign&utm_medium=email&utm_campaign=EOFRN_Jupiter_European_01.07.19&theSource=EOFRN&Override=1 |
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Post by Fletchsmile on Jul 5, 2019 12:27:10 GMT 7
Morninstar article. Including their downgrading 2 open-ended funds to neutral, but leaving JEO as gold =========================== Darwall to Leave Jupiter to Go It Alone Star manager will set up his own firm but continue to run Gold-rated Jupiter European Opportunities and not compete with Jupiter for two years upiter fund manager Alexander Darwall is leaving the firm after 24 years to set up his own business later in the year. Darwall is fulfilling a long-held ambition to go it alone and has applied for regulatory approval from the FCA for new firm Devon Equity Management. The board of the Jupiter European Opportunities (JEO) trust, which he has run since 2000, said they would be re-appointing Darwall as manager of the trust once his new firm has been set up. In April, Jupiter announced that Darwall was stepping down from running the Jupiter European and Jupiter European Growth funds, at the time rated Gold by Morningstar, despite a strong track record of outperforming his peers. Jupiter European has £5.5 billion of assets under management and Jupiter European Growth has £2.4 billion. Mark Nickols took over the running of the funds this week after the April announcement. He joined Jupiter from Columbia Threadneedle where he was co-manager of the Bronze-rated Threadneedle European Select fund. In September he will be joined by former colleague Mark Heslop, who managed the five-star rated Threadneedle European Smaller Companies fund. Darwall has agreed not to launch competing open-ended funds for two years. Morningstar downgraded the open-ended funds to Neutral following the news that Darwall would be handing over to Nichols after 18 years managing these funds. Under Darwall’s tenure Jupiter European Growth has posted annualised growth of more than 15% over 10 years, beating the benchmark and active fund peers. The performance of Jupiter European is even more impressive, with annualised returns of 16.5% over 10 years. www.morningstar.co.uk/uk/news/193788/darwall-to-leave-jupiter-to-go-it-alone.aspx |
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