Guy de Blonay will take over from Philip Gibbs as the manager of Jupiter Asset Management’s flagship Financial Opportunities fund at the start of next year.
Gibbs will become deputy manager of the £1 billion product, which he steered to one of the industry’s most sustained periods of outperformance over the course of more than 13 years at the helm.
OBSR recently downgraded the fund from AAA to AA, citing de Blonay’s increasing influence over the product. (article continues below)
But Jupiter pointed out de Blonay returned 173% for investors in his previous incarnation as manager of the New Star Global Financials fund, compared with a loss of 33% for his FTSE Global Financials benchmark.