Jupiter Names Clunie Manager of Jupiter Return Fund

Jupiter Fund Management Plc named James Clunie manager of the Jupiter Absolute Return Fund to succeed Philip Gibbs, who is retiring.

Clunie, 45, will take over the 482 million-pound ($728 million) fund on Sept. 1, the London-based asset manager said in a statement today. Gibbs retires from fund management in October 2014, Jupiter said.

Jupiter, run by Edward Bonham Carter, specializes in selling U.K. equity funds to individual investors and started trading on the London Stock Exchange in June 2010. Clunie joined Jupiter from U.K.-based Scottish Widows Investment Partnership, where he ran the company’s U.K. Select Growth Fund and the U.K. Opportunities Fund, the company said in April.

“Jupiter has an excellent reputation as a fund management house,” Clunie said in the statement. “I am very much looking forward to the challenge of delivering strong returns for clients.”

Gibbs, who joined Jupiter in 1997, will remain as manager of the Jupiter Split Investment Trust until the fund closes on Oct. 31, 2014, the company said.