Jupiter has lost two of its emerging market fund managers in a shock exit. A spokesman confirmed that Philip Ehrmann, manager of the Bronze Rated Jupiter China fund, and Kathryn Landridge, manager of the Jupiter Global Emerging Markets fund will leave the firm at the end of the year.
Ehrmann has been with Jupiter since 2006 and took over the running of the China fund in October 2008. Following a strong 2013, where he returned 20% to investors in a year when markets moved sideways, he has struggled since January, losing 1.4%.
Langridge joined Jupiter in 2010 with more than two decades experience running money in emerging markets, launching their Global Emerging Markets fund in November that year. She was recently appointed co-manager of the Jupiter Emerging European Opportunities fund.
The departures come soon after Jupiter appointed a new head of emerging markets, Ross Teverson, from Standard Life Investments. Teverson is due to start at Jupiter later this month. This role is a new created position and signals Jupiter’s intention to boost their coverage of the sector.
Morningstar fund analysts earlier this year said that the appeal of Jupiter China was Ehrmann himself.
“Fund manager Philip Ehrmann, who joined Jupiter in 2006, holds the key to this fund’s appeal,” the report reads.
“We have a high regard for seasoned investor Philip Ehrmann, who has accumulated over 30 years of experience in emerging-markets investing. All told, we believe that the manager’s experience and the stock-picking skills demonstrated at his previous charge and at Jupiter will reward long-term investors.”
A spokesman for Jupiter said the managers had decided to leave Jupiter to pursue their careers elsewhere.
“We are sorry to see them go and wish them both well for the future. They will be with us until the end of the year and we would like to reassure our clients that plans are in place, and will be announced shortly, for the future management of these portfolios,” they added.
Morningstar Analysts Place Fund Under Review
Following the news that fund manager Philip Ehrmann is to leave the company at the end of 2014, we have placed the Jupiter China fund Under Review, a release from Morningstar analysts stated.
The fund previously held a Morningstar Analyst Rating™ of Bronze. Ehrmann has managed this fund since its launch and his experience and knowledge has been a key factor in our rating of this product. We await further information from the group concerning the future management of this fund.
