Jupiter has hired former Scottish Widows Investment Partnership (Swip) manager Ivan Kralj to work with James Clunie on the Jupiter Absolute Return fund.
Mr Kralj was left looking for a new role when Aberdeen culled Swip’s global equities team following the completion of its acquisition of the firm.
And he has now been reunited with his former Swip colleague Mr Clunie, having joined Jupiter this month as an analyst.
Jupiter said Mr Kralj’s role would “include the analysis of long and short positions, generation of ideas, the creation of suitable hedges and he will also be helping James to manage portfolio risk”.
At Swip, Mr Kralj had been a trainee investment manager working as the interim manager on Swip’s Real Estate Equity funds.
But he was also actively involved with Mr Clunie on the Swip UK Flexible Strategy fund and continued to work on the fund after Mr Clunie joined Jupiter last year.
Since taking on the Jupiter Absolute Return fund in September 2013, Mr Clunie has had to completely overhaul a portfolio that he described as “97 per cent cash” when he took it on.
But he said the fund is now in the sort of shape investors would expect, a long/short equity fund that is currently around 30 per cent net long.
