Jupiter fund manager Dermot Murphy and investment director Claudia Ripley have announced their intention to follow Ben Whitmore out of the exit door to set up a boutique.
Murphy and Ripley both sit within the asset manager’s value equities team.
In a Linkedin post published today (10 January), Murphy said the trio will be seeking FCA authorisation to launch a value-oriented boutique.
“We have all enjoyed working at Jupiter and would not have been able to deliver the outperformance for our clients without the help of many people throughout the business. We would like the say a big thank you to all those who have helped us over the years,” he said.
“However, we believe that now is the right time to move on and we are extremely excited by the possibilities this will bring. Our ambition is to create an organisation synonymous with value investing renowned for both investment performance and client service.”
Murphy, who has spent over a decade at Jupiter, also confirmed he will continue in his current role until ‘at least the end of July’.
He has co-managed the £513.8m Jupiter Global Value fund alongside Whitmore since 2016.
The strategy has returned 41.3% over the last three years, almost triple the sector average 14.5%.
Yesterday, Whitmore’s decision to exit the firm was announced. He will be replaced on the £2.1bn Jupiter UK Special Situations fund by JO Hambro’s Alex Savvides.