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Jupiter rethinks UK fund team as Paterson quits

Jupiter is restructuring its UK fund management team following the loss of one of its senior fund managers.

Adrian Paterson, who managed £400m in four funds, is leaving early next year to go travelling.

As predicted in Money Mark eting in September, joint chief executive Edw ard Bon ham-Carter is to step down from the £750m UK growth fund to make way for ex-Dresdner growth manager Justin Seager.

Bonham-Carter will take over management of the £35m undervalued assets fund from Paterson.

Paterson also manages Jupiter&#39s UK growth exempt fund, UK smaller companies fund and the Prima Donna inv estment trust.

These funds will be taken over by Kenneth War nock, Rebecca Will iams and Justin Seager respectively.

Warnock has also taken over the UK special situations fund from Alan Mil ler, who has left to become a director of John Duff ield&#39s company New Star Asset Management.

The changes will take effect from January 1, with the exception of the special situations fund, which was handed over last week.

Bonham-Carter says: “We have made high-profile appointments of fund managers over the past few months, which means that we are now able to start reallocating some funds to different members of our fund management team.

“We are very positive that these changes will enhance our long-term performance.”

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