Jupiter Asset Management, a UK fund management group, has appointed Gregory Herbert as manager of the Jupiter European Income Fund, replacing Cédric de Fonclare, effective 2 April onwards.
According to Jupiter, Fonclare will remain involved with the fund, supporting Herbert as deputy manager.
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Herbert has worked on the Jupiter European Income fund since 2007 with de Fonclare, as well as the Jupiter European Special Situations fund and the offshore Jupiter European Opportunities fund.
Fonclare has been in charge of the European Income fund since July 2011, since when the fund has posted a 16.9% return. de Fonclare will continue as lead manager on the other mandates.
Jupiter Asset Management chief investment officer, John Chatfeild-Roberts, said: " Cédric’s performance record has enabled him to establish a strong following among fund buyers and it is pleasing that Gregory has developed considerable skill in his own right as an analyst and fund manager since joining the team.
"We are delighted to be able to recognise this by extending his fund management responsibilities."
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