Clunie Replaces Gibbs As Jupiter Absolute Return Manager

Jul 19 2013 | 10:14am ET

In preparation for his 2014 retirement, Jupiter Asset Management's Philip Gibbs will hand over his £536 million Absolute Return fund to James Clunie in September.

Gibbs, who joined Jupiter in 1997, had earlier passed management of his Financial Opportunities fund to Guy de Blonay. Gibbs now runs only the Jupiter Second Split trust, which he will continue to do until it winds up in October 2014, at which point he will retire, reports Investment Week.

Said Jupiter CEO Edward Bonham Carter: "Philip has delivered outstanding long-term returns to clients during his career at Jupiter and I would like to thank him for the contribution he has made to the company during this time.”

Gibbs, who delivered a 792% return on Jupiter Financial Opportunities, has seen his Absolute Return fund struggle, returning just 1% in the last three years.

That is something Clunie, who joined Jupiter on July 15, 2013, will now have to deal with.

Clunie has 24 years' experience in the financial industry, most recently running the Flexible Strategy Fund for Scottish Widows Investments, which has returned 24.5% over the past three years.

 


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.