Jupiter Asset Management is delighted to announce that its Private Clients and Charities division has won a mandate to manage a multi-asset portfolio on behalf of the Institute of Chartered Accountants in England and Wales (ICAEW).

The portfolio will be run on a pooled open architecture basis with the team selecting what they believe to be the best funds from across the entire market. It will be managed by Victor Cazalet, Director of Private Client and Charity Investment Management, supported by Oliver Burns, Director of Private Client and Charity Investment Management.  Victor has worked at Jupiter since 2000 and has extensive experience of managing portfolios on behalf of private clients, charities, professional bodies and pension trustees. Oliver joined Jupiter in 2008 and has 10 years' experience in investment management. The team as a whole consists of 14 investment managers and manages £1.2bn of assets.*

Victor will set strategic asset allocation, drawing on the expertise of the award-winning Jupiter Merlin team led by John Chatfeild-Roberts as well as a wealth of both in-house and external research.  The portfolio will then be constructed using funds selected from across the market including, where appropriate, some of Jupiter's own funds.

Portfolios constructed by Jupiter's Private Client and Charities team offer access to all types of investment vehicles including individual equities, third party funds and ETFs, as well as Jupiter's range of funds.  The team manages a number of multi-asset portfolios for clients including institutions, charities and private individuals.

Melanie Wotherspoon ACA, Director of Private Client & Charity Business Development, said: "The ICAEW is a world-leading organisation and we are delighted to have been selected by them to manage this mandate.  Having recently expanded the team, awareness of our offering in the marketplace has improved and helped increase opportunities to grow our business.

"The open architecture approach we have agreed with the ICAEW draws upon Jupiter's strengths in the multi-manager arena and broader investment skills, while also allowing the investment manager to select external funds where we believe they will add most value to the portfolio."

Daniel Quint, Finance Director at the ICAEW, said: "Our goal is to ensure that the funds we manage deliver a return that will enable us to achieve our strategic objectives on behalf of our membership. Jupiter has an established reputation as a market leader with an emphasis on outperformance and we look forward to working with the team to meet our investment objectives.

"The structured but flexible approach to managing the portfolio plus the stability and quality of the team were key factors in our decision making."

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 *As at 31st August 2009

Notes to editors:

Team biographies

Oliver Burns
Director - Private Client and Charity Investment Manager
After obtaining a degree in Economic and Social History from Birmingham University, Oliver joined Bestinvest in 1997 as an Investment Adviser, advising clients regarding investments in collective investment schemes, pensions and venture capital trusts. In 2003, he helped to launch the Bestinvest discretionary investment management service and in 2007 was appointed the Head of Investment Management. Oliver joined Jupiter in November 2008.

Victor Cazalet
Director - Private Client and Charity Investment Manager
Victor joined Jupiter in 2000 from Lazard Asset Management where he was responsible for the Private Client department. He has spent many years in fund management, concentrating latterly on the management of personal and trust assets both onshore and offshore. Prior to joining Jupiter, the majority of his career was spent at Morgan Grenfell Asset Management. Victor read History at Christ Church, Oxford.

Melanie Wotherspoon ACA
Director - Private Client & Charity Business Development
Melanie joined Jupiter in 2007 after spending nine years at Baring Asset Management. She previously worked for Deutsche Morgan Grenfell, First Chicago NBD and Ernst and Young. She gained international experience after graduation working for HSBC in Hong Kong, San Francisco and Bombay. Melanie is  a Chartered Accountant and has a degree in Systems and Management from City University.

Jupiter Asset Management (JAM) is authorised and regulated by the Financial Services Authority and their registered address is Grosvenor Place, London SW1X 7JJ. JAM is a subsidiary of Jupiter Investment Management Group Limited and the group is collectively known as "Jupiter".