From Morningstar:

Morningstar downgraded Jupiter Asset Management’s UK Special Situations fund and Income Trust after lead portfolio manager Ben Whitmore’s departure. Whitmore leaves in July to launch his own value equity fund, impacting over £3.5 billion in assets. The funds will be passed to new managers with different investment approaches, raising concerns for investors. The strategies’ ratings have been downgraded, creating uncertainty for investors about the future performance of these funds. Whitmore’s departure has caused Morningstar to analyze the impact on the funds he managed. Jupiter’s shares have dropped around 35% over one year due to staff departures and outflows, reflecting investor concerns about the company’s stability and performance.

CEO Matthew Beesley expressed support for Whitmore’s aspirations to start his own fund and thanked him for his long-term contributions to Jupiter. Beesley acknowledged the impact Whitmore had on the company during his tenure and wished him well in his future endeavors. Whitmore’s departure marks a significant change for Jupiter Asset Management, leading to uncertainty among investors about the future performance of the affected funds. Whitmore’s departure has raised questions about the continuity of the investment processes and strategies he employed. Jupiter’s stock performance has also been affected by these changes, with shares declining over the past year due to investor concerns about the company’s stability and leadership.



Read more at Morningstar: Morningstar Downgrades Jupiter Special Situations…