Cédric de Fonclare is to leave the fund management industry after 21 years at Jupiter Asset Management, FTAdviser can reveal.
Jupiter told FTAdviser Mr de Fonclare had decided to leave the company in order to move abroad with his family and did not intend to take on a new fund manager role.
Mr de Fonclare manages the Jupiter European Special Situations, European Opportunities and Eurozone Equities funds, which will now be taken over by Mark Nichols and Mark Heslop, who have worked with Mr de Fonclare in Jupiter’s European equities team.
Stephen Pearson, chief investment officer, said: “Cédric has been a highly valued colleague for many years and we thank him both for the contribution he has made on behalf of our clients, and to the business overall.
“Having originally joined the client services department in 1999, Cédric began managing European equities in 2003 and has shown great dedication and insight as a fund manager.
"We wish him and his family well as they embark on a new chapter in their lives outside the investment industry and the UK.”
Mr Pearson added Mr Nichols and Mr Heslop’s appointments last year had “marked a turning point” for the European growth strategy, saying the firm was pleased to be able to transition its clients to their “capable hands”.
Mr de Fonclare’s £311m Jupiter European Special Situations fund has lost less than 1 per cent over the past year, beating its peers in the IA Europe excluding UK Sector by 6 per cent.
His smaller £83m Jupiter European Opportunities fund has beaten the average European fund by about 5 per cent, losing 3.7 per cent over the past year.
Mr de Fonclare said: “I would like to express my thanks and gratitude to the many clients and colleagues I have had the pleasure to work with throughout my career as a fund manager at Jupiter.
“I have made a personal decision to leave the company and the industry after many years, and I wish the company every success in the future.”
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