The move takes immediate effect and sees Somerville, who runs the £612m Jupiter Japan Income unit trust, become the vehicle’s deputy manager.
Carter joined Jupiter as an analyst in 2008, having previously served as a fund manager within Odey Asset Management’s Japanese equities team.
Speaking about his change in role Carter said it was an “exciting time” for investors in Japan, where Abenomics – prime minister Shinzo Abe’s three-pronged plan to boost growth – was giving hope of a brighter future.
The $148m sicav was launched in 2009 and aims to deliver long term capital growth by investing primarily in Japan and by making selective investments in Asia. It is a sub-fund of Jupiter’s Global Fund Sicav.