Fund manager for the JPMorgan Claverhouse Investment trust William Meadon will exit JPMorgan Asset Management after 28 years with the company.
Meadon is set to leave JPMAM in August after managing the trust since 2012. In July, the trust will be passed over to Callum Abbott (pictured), who has managed Claverhouse alongside Meadon for the past six years. Katen Patel and Anthony Lynch, who currently oversee the JPM UK Equity Income fund, will also join as co-managers.
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In the past 10 years, the Claverhouse Investment trust has had a share price total return of 85.9% compared to a sector average 77.7%, according to the Association of Investment Companies. The fund is also marked as an AIC Dividend Hero. However, the trust currently trades on a 6% discount.
Chair of JCH, David Fletcher, said: “The board would like to thank William for his significant contribution to the company over the past 12 years and wish him every success in his future endeavours. We are pleased to welcome Anthony and Katen as co-managers of the company’s portfolio, alongside Callum. Both Anthony and Katen have strong track records of managing UK equity income portfolios and we have confidence that their addition to the investment team will benefit shareholders.
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“Anthony and Katen have experience investing in companies across the market capitalisation spectrum which we believe will assist the company in continuing to fulfil its progressive dividend policy objective by focusing on high quality stocks with the ability to generate consistent and growing dividends.”
