Jupiter is pleased to announce the appointment of Magnus Spence as Head of Investment Trusts as the company looks to further develop this key business area. Magnus, who joined Jupiter in 2016 as Head of Alternatives, takes over responsibility for Jupiter’s investment trust business from Richard Pavry, who will leave the firm in November.


Jupiter has a long history in the investment trust industry, having managed investment trusts since the company’s inception in 1985, when it was appointed as manager to River Plate & General Investment Trust PLC. In 1989 the firm launched the first green investment trust, Merlin International Green Investment Trust PLC, and in more recent years has launched, or been appointed to manage, a range of investment trust strategies, including Jupiter Emerging & Frontier Income Trust, launched for Ross Teverson and Charlie Sunnucks in 2017, and Jupiter US Smaller Companies PLC, managed by Robert Siddles, to which Jupiter was appointed in 2015.


Magnus has nearly 20 years’ experience in the alternatives asset management industry. Earlier this year he was instrumental in the re-positioning of the Jupiter Monthly Alternative Income Fund, a fund of investment trusts investing across a range of alternative assets. Before joining Jupiter he worked as Head of Product at Fidante Partners (formerly Dexion Capital plc, a firm specialising in alternative investment trusts) having previously been Chief Executive and Managing Partner of Dalton Strategic Partnership LLP, a specialist equity firm. In his new, expanded role, Magnus will continue to be responsible for the firm’s alternatives business.


Andrew Formica, CEO, commented:
“Jupiter has a long and successful track record of managing equity investment companies. Like Jupiter, they are a particularly British proposition, and our culture of truly active investment provides a natural home for this type of vehicle. Our strong history of delivering both income and capital gains over many years to shareholders in our investment trust range mean we are well positioned as we continue to develop this important part of our business under Magnus’s leadership. Our thanks go to Richard for his valuable contribution to the success of the business over the last 20 years.”


Magnus Spence commented:
“I am delighted to be expanding my role to lead Jupiter’s investment trust business at this point in its evolution. In a world characterised by low yields from traditional asset classes such as cash and bonds, investment trusts have become an important source of income for investors. Over the last 10 years, the range of opportunities within the investment trust universe has evolved, and more trusts are looking to alternative investments as a source of income. I believe there is huge potential for growth in these areas and look forward to working with Jupiter’s team of talented investment managers as we build and develop this important part of the business.”

For further information, please contact:

Despina Constantinides
Head of Communications
+44 (0)20 3817 1278 / +44 (0)7801 337 677
[email protected]

Mark Cotton
Senior Corporate Communications Manager
+44 (0)20 3817 1282
[email protected]

Emily Paul
Media Relations Manager
+44 (0)20 3817 1495
[email protected]

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