Philip Gibbs is to pass his £1bn Jupiter financial opportunities fund over to Guy de Blonay from January 2011.
de Blonay joined Jupiter from Henderson in January 2010 and has been co-manager on the fund since June.
The move allows Gibbs to focus on the management of the £634m Jupiter absolute return fund and the £170m international financial fund. He will also continue to manage the second split investment trust.
Gibbs has managed the fund since its launch in 1997. The fund has produced a return of 766 per cent since launch, according to figures from Financial Express to the end of September 2010.
Gibbs says: “It has been an honour to have had such strong support from investors in the Jupiter financial opportunities Fund for the past 13 years but with the Jupiter absolute return fund and Jupiter international financials fund having attracted such significant assets since their launch and my continued responsibilities for the management of Jupiter second split, it is prudent to shortly hand the day to day management of the Jupiter financial opportunities fund to Guy.
de Blonay: “I am looking forward to building on the track record of the fund and continuing to deliver outperformance for unitholders over the medium to long term. The financials sector remains a diverse and attractive area in which to invest and presents significant opportunities on a global basis for investors.”