Jupiter’s global emerging markets head of strategy Ross Teverson has left the business.
Teverson has managed the Jupiter Global Emerging Markets fund since joining the fund group in 2014 and the Jupiter Emerging and Frontier Income Trust (JEFI) since launch in 2017. The latter is in the process of being wound down, due to a “deteriorating international outlook” following Russia’s invasion of Ukraine.
It is unclear where Teverson is headed after Jupiter.
Following his departure, Nick Payne has been appointed lead manager on the global emerging markets equities team. Teverson’s sole remaining £31m Oeic will transfer to Payne and his team, and will be brought in line with the ‘quality growth’ strategy of Payne’s $160.3m (£121.9m) Jupiter Global Emerging Markets Focus fund.
Payne arrived at Jupiter following its acquisition of Merian Global Investors in 2020 and has run the Global Emerging Markets Focus fund since 2017. Over that time he has consistently outperformed Teverson, with his fund up 22.5%, while Teverson’s fund has lost 0.42%, according to FE Fundinfo.
Jupiter GEM vs Jupiter GEM Focus performance
| 1y | 3y | 5y | |
| Jupiter Global Emerging Markets | -6.26 | 12.41 | 7.86 |
| Jupiter Global Emerging Markets Focus | -1.55 | 28.27 | 33.19 |
| IA Global Emerging Markets | -8.70 | 14.36 | 19.69 |
Source: FE Fundinfo
Jupiter CIO Matthew Beesley commented: “I would like to congratulate Nick on his new role, which will bring together Jupiter’s Global Emerging Market equities capabilities under one strategy. Nick is a talented fund manager and a strong team leader, and I look forward to working with him in his enhanced role.
“At the same time I would like to thank departing manager Ross Teverson, who has managed his portfolios through an incredibly challenging few years for markets. A dedicated and client-focused fund manager, he has been a pleasure to work with for the relatively short time I have been at Jupiter, and he leaves with our thanks and best wishes for the future.”
