Somerville departing Jupiter after 11 years

Simon Somerville is set to leave Jupiter Fund Management after eleven years, passing on the management of his Japan Income fund to deputy manager Dan Carter (pictured).

Somerville has managed Jupiter’s Japan Income fund since 2005, and Japan Select Sicav fund since 2013. He has worked alongside Carter on the former since 2008.

Over the course of Somerville’s stewardship, the Japan Income fund has beaten the Tokyo Stock Exchange index by 17%. A spokesperson for the firm was quick to stress the fund’s investment philosophy would not change in light of his departure.

Prior to joining Jupiter in 2008 as an analyst on the firm’s Far Eastern equities team, Carter was a fund manager at Odey Asset Management in its Japanese equities division. Previous to that, he served as investment analyst at Baillie Gifford & Co, in the firm’s Japanese and UK large-cap equities teams.

Jupiter Fund Management manages assets of around £35.7 billion (€47 billion) as of December 31 2015.

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