Jupiter Fund Management PLC

European Growth Strategy update

Jupiter announced on 1 April 2019 that Mark Nichols had been appointed as fund manager to succeed Alexander Darwall on the Jupiter European Fund (AUM: £5.5bn*) and Jupiter European Growth Sicav (AUM: £2.4bn*). Jupiter Fund Management PLC ("Jupiter") is now in a position to provide a further update on key developments relating to its European Growth strategy.

We are pleased to confirm that Mark Nichols has commenced employment today, joining the European Growth investment team. His strong reputation, experience in managing large scale funds and active style will help ensure continuity with the investment culture at Jupiter. He will be followed shortly by experienced European small and mid-cap manager Mark Heslop who joins on 2 September. The new team will assume full responsibility for the portfolios in Q4.

With its succession arrangements now in place, Jupiter has been in talks with Alexander Darwall about his future plans. Alexander has told the company that he would like to fulfil a long-held ambition to launch a small investment management business. With Jupiter's agreement, he has taken preparatory steps to do this including making an application to seek regulatory approval from the Financial Conduct Authority for a newly incorporated company.

As part of a constructive and collaborative engagement Jupiter and Alexander have agreed that the new venture will not compete with Jupiter in the UCITS market for a period of two years.

Jupiter would like to emphasise that clients' best interests remain the key consideration in this process. In the meantime, Alexander is fully committed to delivering consistent performance and ensuring a smooth transition of the mutual funds.

*Source: Jupiter, figures correct at 31 05 2019

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LEI Number: 5493003DJ1G01IMQ7S28