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Dresdner star is tipped to take over Jupiter UK fund

Jupiter has poached Dresdner&#39s star UK growth fund manager Justin Seager in a move which IFAs say will free chief executive Edward Bonham-Carter to concentrate on running the business.

Although there is no obvious opening at Jupiter, it is thought that Seager is to be groomed for the takeover of Bonham-Carter&#39s UK growth fund. Jupiter is also expected to launch a new fund to tap the talents of Seager.

Since former CEO John Duffield&#39s departure from Jupiter in May, Bonham-Carter has continued in his role as fund manager and chief investment officer as well as taking on the responsibilities of joint CEO.

Seager&#39s AA-rated UK growth fund is one of the top-performing unit trusts in the UK all companies sector, and has top-quartile performance figures over one, three and five-year periods. Seager also manages the general international trust, Brunner, which is rated number one in its sector over one and three years.

After 13 years at Dresdner, Seager says he wanted to move to a fund management company where the fund managers were empowered and rewarded. He is expected to take up the new position by the end of November.

Bonham-Carter says: “Jupiter is not driven by the need to have more people but we are always on the lookoutfor talent. Justin has some great figures and his recruitment opens up a number of options for our UK team.”

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