View more on these topics

De Fonclare to take over Jupiter European Income

Cedric de Fonclare, the manager of Jupiter’s European special situations fund, has taken over its European income fund from Malcolm Millar, who is leaving the firm.

Millar ran the fund from launch in May 2007. Over the last three years, the fund delivered returns of 7.2 per cent, compared with the MSCI Europe excluding UK index, which lost 8 per cent. The fund underperformed its sector, which gained 7.8 per cent.

At £30m, the fund is smaller than de Fonclare’s £586m European Special Situations vehicle, which has outperformed the sector and the MSCI index with a return of 19.5 per cent.

Millar is also the co-manager of Jupiter’s offshore Global Equities fund, which will now be run solely by Ben Surtees, his fellow co-manager.

Millar is leaving Jupiter because he “wants a change”, according to a spokesperson.

Edward Bonham Carter, the chief executive of Jupiter, says: “We are sorry that Malcolm is leaving Jupiter…We wish him well with his future plans”.

Millar will leave on July 15.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm