Jupiter Asset Management has hired former Dalton Strategic Partnership chief executive Magnus Spence as its new head of alternative investments.
Spence will be responsible for expanding Jupiter’s expertise in alternatives, which the asset manager describes as a “strategically-important asset class”. He will join the asset manager at the end of the month.
Spence will focus on broadening the existing alternatives funds across asset class and country. He will initially work on the current long/short equity Ucits products, the Europe and Global Absolute Return funds, and the Jupiter Absolute Return unit trust.
Spence most recently comes from Fidante Parners, formerly Dexion Capital, where he was head of product. Before that he was chief executive and managing partner at Dalton, after co-founding it in 2002.
Stephen Pearson, chief investment officer at Jupiter, says: “We are very much looking forward to welcoming someone of Magnus’ experience and calibre to the investment management team we are building at Jupiter.
“Magnus will be working closely with me, James [Clunie, head of strategy for absolute return] and the fund management team to strengthen and broaden our presence in the alternatives sector. This is an asset class which is highly sought after and important for the future development of our investment proposition.”
Spence adds: “There is great potential for growth in the alternatives space both domestically and internationally. Jupiter, with its reputation for investment excellence, has the right ingredients to become a leading player in alternatives and I look forward to the opportunity of working with the entire team to meet this objective.”