Update: Jupiter’s Simon Somerville joins boutique manager

Japan-Japanese-Umbrella-Asia-700x450.jpgJupiter Japan Income fund manager Simon Somerville is joining institutional manager Marathon Asset Management.

Somerville, who managed the £577m Japan Income fund and was head of strategy for Japan at Jupiter, announced he was leaving the asset manager yesterday after 11 years at the firm.

He is joining equity asset manager Marathon, which runs money for institutional investors, as portfolio manager for Japanese equities.

Marathon has an existing Japan equity offering, run by co-founder William Arah, which has a track record back to 1987.

Somerville has been with Jupiter since 2005, having run the Japan Income fund since its launch. He was previously head of global and Japan equities at Cazenove Fund Management.

He will be replaced on the Japan Income fund at Jupiter by current deputy manager Dan Carter, who will become lead manager. Jupiter says there will be no change in the investment philosophy of the fund.

Carter is currently manager of the Jupiter Japan Select Sicav fund, aimed at international clients. He joined Jupiter in 2008 as an analyst on the Far Eastern equities team.