Stephen Mitchell, who joined Jupiter in February as Head of Strategy, Global Equities, is to take on the management of the Jupiter Global Managed Fund from 2 March 2015.
The Fund will continue to be run as a global portfolio, but with a greater emphasis on dividends and dividend growth as a significant driver of potential return.
The objective of the Fund is to achieve long-term capital growth principally through investment in equities on an international basis. From 2001, the fund has been managed on a manager-of-managers approach*. Following Stephen’s appointment as manager, the Fund will hold a smaller number of stocks, focusing on companies with strong business models, proven management, sound balance sheets and favourable long term growth prospects.
Over a long career in fund management, Stephen has developed a robust investment process that he will apply to the management of the Jupiter Global Managed Fund. He has a stock-picking approach with an unconstrained style, meaning he has the freedom to invest as he sees fit subject to the constraints set by the Fund’s objective. Stephen places a great emphasis on understanding the companies invested in and is scrupulous about corporate governance, both at a company and country level. He conducts regular visits and management meetings with all of the companies he invests in.
Typically, he will be holding stocks for the longer term to seek to capitalise on sustained periods of structural growth. Although this approach is inherently bottom-up, he will also carefully monitor macroeconomic trends, to identify turning points in the economic cycle and overall market valuation levels.
Stephen Pearson, head of investments at Jupiter Asset Management, says: “Global equities is an important and growing asset class with the opportunity to add significant value for investors from an active management style. Stephen’s appointment as head of the Global Equity strategy marks an important step for Jupiter in addressing this market. Stephen’s experience and proven investment process combined with the ability to invest across the globe without benchmark constraints will, we believe, drive returns for investors over the long term.”