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Dresdner&#39s Sheehan to join Jupiter UK team

Jupiter has poached UK equity income manager Paul Sheehan from Dresdner

RCM to boost its UK specialist equity team.

Sheehan will replace Edward Bland as the manager of the £51m Jupiter

growth & income unit trust this summer. Bland will move out of the retail

division to focus on institutional funds.

Sheehan has managed Dresdner&#39s UK equity income fund since August 1994.

The fund has a Standard & Poor&#39s A rating. Since he took control of the

fund, it has returned around 120 per cent on an offer-to-bid basis with

gross income reinvested. He has also managed the JOS Holdings split-capital

investment trust since April 1994.

He is the second manager from Dresdner&#39s UK desk to be recruited by

Jupiter in the last eight months following the departure of its UK growth

manager Justin Seager last September.

Sheehan will join Jupiter&#39s new share incentive scheme, which is linked to

the company&#39s profits and the fund managers&#39 outperformance of their

benchmark.

Chief executive Edward Bonham-Carter says: “Paul will be a senior member

of Jupiter&#39s specialist UK equities team. His experience, talent and style

of investment will enhance and complement Jupiter&#39s strength in the

management of UK assets.”

Hargreaves Lansdown investment manager Ben Yearsley says: “Paul Sheehan is

a good fund manager and this is a good move for Jupiter. It is yet another

disappointing departure for Dresdner.”

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