Asset Management

Energy Fund Closed At Jupiter, Manager Leaves Firm

Mark Shapland Reporter London 20 August 2014

Energy Fund Closed At Jupiter, Manager Leaves Firm

Jupiter Asset Management has closed its Global Energy fund and its manager - Derek Pound - is leaving by mutual agreement.

Jupiter Asset Management has closed its Global Energy fund and its manager Derek Pound is leaving by mutual agreement.

The fund, opened in 2011, has not gained the critical mass nor generated the returns hoped for at the time of the launch, the company said in a statement.

“Jupiter no longer believes that this strategy has the potential to do so in the medium to long term future. As a result of the closure and by mutual agreement, fund manager Derek Pound, will be leaving the company,” it added.

Pound had spent two decades at Jupiter, joining in 1995 as part of the UK equities team and began running assets in 1999.

“After nearly 20 enjoyable and fruitful years at Jupiter I feel it is time for a new challenge. Hence I will be leaving the company at the end of September,” he said.

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