Jupiter has appointed Nick Payne as lead fund manager on its global emerging market equities team.
Payne joined Jupiter in 2020 following the firm's acquisition of Merian Global Investors and is currently lead manager of the Jupiter global emerging markets focus fund.
Prior to joining Merian, Payne worked at Nomura Asset Management where he was appointed head of emerging and frontier equities in 2015. Previously he was at Rexiter Capital Management as director and head of Latin America.
Payne’s appointment follows the resignation of fund manager Ross Teverson who joined the company in 2014.
Teverson managed both the Jupiter global emerging markets fund, since he began, as well as the emerging and frontier income trust since its launch in 2017. He has worked alongside Payne and the team since the integration of the Merian team in 2020.
Following Teverson’s departure, the management of the Jupiter global emerging markets fund will transfer to Payne and team.
Earlier this month, the board of the Jupiter emerging and frontier income trust, managed by Teverson, put forward proposals for the members' voluntary liquidation of the company.
Jupiter said a further announcement as to the future of the company will be made in due course.
Matthew Beesley, chief investment officer at Jupiter, said: “I would like to congratulate Nick on his new role, which will bring together Jupiter’s global emerging market equities capabilities under one strategy. Nick is a talented fund manager and a strong team leader, and I look forward to working with him in his enhanced role.
“At the same time I would like to thank departing manager Ross Teverson, who has managed his portfolios through an incredibly challenging few years for markets. A dedicated and client-focused fund manager, he has been a pleasure to work with for the relatively short time I have been at Jupiter, and he leaves with our thanks and best wishes for the future.”
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