Scottish Widows Investment Partnership UK equity manager James Clunie is joining Jupiter Asset Management.
Clunie will help develop Jupiter’s total return and equity long-short offering when he joins in July.
Clunie has been at Swip since April 2007 and managed the £51.8m Swip UK Flexible Strategy, £116m Swip UK Opportunities, £46.7m Scottish Widows Select Growth and £72.4m TU Unit funds. He also co-managed the Swip UK Income fund with Richard Dunbar.
He had been managing the UK Opportunities fund on an interim basis following the repositioning of the group’s equities strategy last year.
Fund manager Tony Foster will assume responsibility for managing the Swip UK Flexible Strategy fund, while investment director in the global strategy team Mark Phillips will continue as back-up manager. New managers for the other funds have not yet been named.
A statement from Jupiter says: “We are delighted to have attracted someone of his calibre as we seek to grow our share in these markets.”
Chelsea Financial Services managing director Darius McDermott says: “James Clunie is an expert in the science of shorting and his performance on the Flexible fund since he has taken over has been strong.”