Guy de Blonay quits Henderson New Star for Jupiter
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Henderson New Star global financials fund manager Guy de Blonay has quit the firm to join Jupiter.
De Blonay will join Jupiter in 2010 in an advisory role before joining the financials team of Philip Gibbs and Robert Mumby.
Jupiter recently unveiled plans to widen its financials franchise with the launch of an absolute return and international financials fund.
De Blonay has managed the New Star global financials fund since December 2001, the fund has returned 83.6 per cent in the past five years. De Blonay previously worked at Jupiter for six years as an analyst.
Assistant manager Emily Adderson will continue to manage both the global financials fund and the closed ended Henderson financial opportunities fund.
Henderson head of equities Bill McQuaker says: “In her three years of working on the funds Emily has proved herself extremely capable as a financials fund manager. This, combined with Henderson’s broad investment capability in global financial companies across the capital structure puts us in a strong position to continue to be a genuinely credible destination for those looking to invest in this sector.”
Jupiter Asset Management chief executive Edward Bonham-Carter says: “Guy has established a strong track record for managing financial funds in the past eight years and his decision to join us will further cement our reputation as the leading financial fund manager in the UK. We are delighted to welcome Guy back to Jupiter.”
De Blonay’s departure is the first big name loss since the acquisition of New Star by Henderson in April. At the time of the deal, Henderson chief executive Andrew Formica highlighted De Blonay as one of the key manager attractions from New Star.
Chelsea Financial Services managing director Darius McDermott says: “This is very disappointing news as you would of hoped that Guy committing in April would of been the end of it. I would not be surprised if Guy took on the leading financial opportunities fund at some stage from Philip Gibbs following these new launches. We are downgrading the New Star global financials fund to a hold until further notice.”
Hargreaves Lansdown head of research Mark Dampier says: “This is mega disappointing for Henderson New Star but it is a huge coup for Jupiter and the culture at that business. With the new funds there is plenty for him to manage and people forget that Guy outperformed Philip Gibbs prior to the credit crunch. It looks like Jupiter is cornering the financials market.”
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