Jupiter’s Derek Pound to depart as Global Energy closes

Jupiter Asset Management fund manager Derek Pound is to leave the firm with Jupiter set to close his £22m Jupiter Global Energy fund.

Pound has been with Jupiter since 1995 and is currently co-manager of the Jupiter Primadona Growth trust as well as a manager of the UK segment of the Jupiter Global Managed fund.

In a statement Jupiter said the Global Energy fund had not gained “critical mass” since its launch in 2011 and the fund will close in the coming weeks.

Jupiter says no decision has been made on replacements for Pound.

Head of investments Stephen Pearson says: “Derek has been a longstanding and valued member of the UK equities team for nearly 20 years and a popular character in the firm.  He departs with sincere thanks and very best wishes for the future from all of us.”

Pound says: “After nearly twenty 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. I would like to thank you all for your friendship and support over that period.”