Jupiter has appointed Alastair Gunn manager of the Growth & Income fund.
Gunn replaces former manager Chris Watt, who left Jupiter almost a year ago. Steve Davies, head of strategy, UK growth, has been running the fund in the interim.
The £82.7m fund, which launched 20 years ago, targets capital and income growth over the long term by investing in UK companies.
Gunn currently manages the equity portion of the Jupiter Distribution fund range, which includes the Jupiter Distribution & Growth fund, which he co-manages with fixed income manager Rhys Petheram.
The Growth & Income fund’s objective will remain unchanged, however the firm anticipates the portfolio’s holdings will overlap more with the Jupiter Distribution fund, as Gunn looks to make changes “so that the portfolio reflects his high convictions and best ideas”.
Stephen Pearson, Jupiter’s CIO, says: “Alastair has a built a strong track record on the multi-asset funds he co-manages and we are very pleased to appoint him as fund manager of the Jupiter Growth & Income fund, his first standalone product.
“We believe that his approach and experience is well matched to achieve the fund’s aim and he will be supported by Jupiter’s experienced UK equities team, including newly appointed product specialist Claudia Ripley, as well as the wider investment team.”