Jupiter Asset Management has hired M&G fund manager Matt Cable to replace Citywire AAA rated James Zimmerman on its UK small cap fund.
Rising star Zimmerman (pictured) took on Jupiter’s UK Smaller Companies fund in 2015, aged 26. The fund has achieved a 76.6% return over the past three years, thrashing the sector average of 34.5%.
Zimmerman has resigned to return to the US, having previously lived and worked there for a number of years. He has decided to return to America with his young family.
There will be a transition period between the two managers.
UK Equities fund manager Richard Curling, previous fund manager of the Small Cap fund, will take over its day-to-day running before handing over to Cable in the third quarter.
At M&G Cable was lead manager of the £62 million M&G PP UK Smaller Companies Fund since 2014.
Stephen Pearson, Jupiter’s CIO, said: ‘We are delighted to have secured someone of Matt’s calibre to take over the management of this portfolio following James's departure.
He added: ‘A disciplined, bottom-up stock picker, Matt is a natural fit for Jupiter, and his investment philosophy and process are compatible with the portfolio’s existing management style.
'We are confident that his appointment will ensure a seamless transition of this portfolio into capable hands and an ongoing focus on active, conviction-led management.’