Three months ago, Jupiter told IFAs not to panic when is star fund manager
William Littlewood took a three month sabbatical.
With an Isa season imminent, it was quick to comfort investors with
promises that he would be back. Alas, three months on and the news from
Jupiter is that he is suffering from chronic exhaustion and will not be
coming back for the foreseeable future. Cynics may suggest Jupiter knew all
along that he was unlikely to come back and feared such news could hit Isa
While saddened by Littlewood's departure, Jupiter says its fund management
style is underpinned by a team approach.
In December, Scottish Widows was rocked by the departure of star man
Albert Morillo. He had run Widows' flagship European growth fund for 15
years. Yet, on his departure, Widows was quick to play down what impact
But IFAs and discretionary managers thought otherwise and dumped the fund
from their buy lists. A few months later and Morillo turns up again
managing a fund for Investec Guinness Flight and, just one presentation
later, he is back on the buy lists. Credit Suisse is now sweating to see if
IFAs keep its TransAtlantic fund on their buy lists after losing star man
It will have a tough job convincing all that his replacement is up to the
job. No one person is bigger than the company but it appears investment
houses want the best of both worlds and are quick to promote their star
manager when they have one and their team when they have not. What is clear
is IFAs know a star when they see one and they will follow it to give their
clients that little bit extra.