Jupiter star manager Philip Gibbs is handing over his Absolute Return fund as he gears up to retire in October 2014.
The manager is handing the management of his £478m Jupiter Absolute Return fund to long/short investing guru James Clunie on September 1.
Mr Clunie joined the firm from Scottish Widows Investment Partnership (Swip) yesterday.
Mr Gibbs famously delivered a 792 per cent return on his former fund, Jupiter Financial Opportunities, from June 1997 to June 2010 thanks to a series of well-timed macroeconomic calls.
His other product, the Jupiter Second Split investment trust, has a fixed life which ends in October 2014.
Edward Bonham Carter, chief executive of Jupiter Asset Management, said: “Philip has delivered outstanding long-term returns to clients during his career at Jupiter and I would like to thank him for the contribution he has made to the company during this time.
Philip Gibbs said: “It has been a pleasure to have served clients in my funds over the past 16 years and I am looking forward to continuing with the management of the Jupiter Second Split investment trust until October 2014. I wish James well in his management of the Jupiter Absolute Return fund.”
