Mitchell (pictured), who is manager of the £307.1m Jupiter Global Managed fund, joined in March 2015 after running global income and growth investments for Caledonia Investments, where he was a member of their investment committee.
Stuart Cox, who also joined Jupiter in 2015, will take over full responsibility from Mitchell for the fund on an interim basis.
Currently, Cox is a fund manager on the global team, working with Mitchell. Prior to Jupiter, he also worked at Caledonia Investments, managing a global equity income portfolio.
Mitchell began his career as a credit analyst at Dai-Ichi Kangyo Bank before moving to Lombard Odier Asset Management where he was promoted to manage Japanese equity portfolios.
Following further portfolio manager positions at Rothschild Asset Management, he joined JP Morgan Asset Management in London before transferring to Tokyo in 2007.
Stephen Pearson, chief investment officer, confirmed Mitchell’s exit.
“Stephen has been a committed and collaborative colleague since joining Jupiter three years ago as head of strategy for global equity. I would like to thank him for his hard work and dedication in managing the Jupiter global managed fund and we all wish him well for the future,” Pearson said.
Jason Hollands, managing director at Tilney said: “I don’t think this will have a major impact on Jupiter as the Global Managed fund is fairly modest in size and has not been at the forefront of their shop window, lagging the benchmark over most time periods.”
Over a one-year, three-year and five-year basis, the fund has underperformed the IA Global sector with returns of 3.6%, 35.6% and 57.9%, versus 8.7%, 42.1% and 68.1%.
