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Jupiter hires Columbia Threadneedle star to replace Darwall on £7.7bn fund duo

Columbia Threadneedle's Mark Nichols takes over multi-billion funds, allowing Darwall to concentrate on duties at Jupiter European Opportunities Trust

Jupiter hires Columbia Threadneedle star to replace Darwall on £7.7bn fund duo

Alexander Darwall is to step down as head of Jupiter's European Growth strategy and manager of two multi-billion funds.

Darwall (pictured) currently head of the £5.3 billion Jupiter European fund and £2.4 billion European Growth Sicav, will hand over management responsibilities in order to focus on the Jupiter European Opportunities trust and some segregated mandates.

Columbia Threadneedle's Mark Nichols joins the firm's European growth team and takes over as fund manager. Nichols co-managed the £4 billion European Select strategy at his previous employer.

Over a decade, the European Growth Sicav fund has returned 319.4% against a sector average of 161.8% – the best performing fund in its peer group.

Over the same period the European fund has returned 334.8% against a sector average of 179.9%.

Darwall said: 'I have worked closely with Stephen [Pearson, chief investment officer] and the Jupiter team to ensure a seamless transition for investors in our open-ended funds as I look to focus the whole of my continuing fund management effort on the investment trust and our segregated institutional mandates.

Nichols has nearly two decades' worth of experience in the financial industry, all of which has been spent working on European equities.

He started his career at Invesco in 2001 on the European Equities team. He was then manager of European Growth and Income funds at what is now BMO Global Asset Management from 2011 to 2015.

Pearson (pictured above), said: 'We are delighted to attract a manager of Mark’s pedigree and experience to this important role in our European Growth team.

'For some time we have been developing a succession plan for Alexander Darwall who has managed funds for more than 18 years at Jupiter.

'Since taking on the Jupiter European Fund in 2001, Alexander has produced outstanding returns for clients and built the unit trust to be the largest fund in its sector. He has also played a leading role in the development of Jupiter’s international business through the launch of the Jupiter European Growth Sicav in 2007.'

Darwall joined Jupiter in 1995.

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