Rhys Petheram and Alastair Gunn, currently co-managers of the £343m Jupiter Distribution fund will extend their partnership to the Jupiter High Income fund as Petheram picks up the fixed income mandate of the portfolio from Ariel Bezalel.
Bezalel will, as a result, be able to concentrate on managing the Strategic Bond fund and Dynamic Bond Sicav, which together account for £2.3bn of assets under management.
Gunn has been co-manager of the Jupiter High Income fund since July 2013, striving for its objective of achieving a high and rising income along with capital growth.
The High Income fund tends to have a greater bias to equities and high yield bonds compared to the Distribution fund. Together, the group was confident it offered investors two different approaches to gaining access to a potential income stream and capital growth.
“Bringing Rhys on to manage the fixed income portion of the Jupiter High Income fund alongside Alastair is a logical move. Since they began co-managing the fund in July 2010, it has been one of the top-five performing funds in its sector over one and three years,” said Stephen Pearson, head of investments at Jupiter.
Petheram will also be taking over the fixed income portion of the Jupiter Monthly Income fund from Bezalel from 1 January, with Jupiter’s Richard Curling continuing to manage the equity portion of the fund. There are currently no planned changes to the investment process.
Petheram will continue to run the £201m Corporate Bond fund.
