Jupiter Asset Management is pleased to announce that Guy de Blonay will be appointed lead manager of the Jupiter Financial Opportunities Fund from 1 January 2011. Philip Gibbs, who has managed the £1bn Fund since its launch in June 1997 and has co-managed the portfolio alongside Guy since 1 June 2010, will become deputy manager. Philip will retain oversight of all Jupiter's financials portfolios as head of the financials team, and day to day will focus specifically on managing the Jupiter Absolute Return Fund and the Jupiter International Financials Fund, which have attracted significant assets since they were launched in December 2009 and are now £634m and £170m respectively. He will also continue to manage the Jupiter Second Split Investment Trust plc.

Guy de Blonay joined Jupiter in January 2010 and became co-manager of the Jupiter Financial Opportunities Fund and manager of an offshore long/short hedge fund in June 2010. He has developed a strong track record for managing financials assets, producing a return of 173% compared with -33% for the FTSE Global Financials Index for investors in the New Star Global Financials Fund between 28 December 2001 and 21 October 2009.*

Guy's appointment has added further strength to Jupiter's financials team, which now manages more than £1.3bn across four financials portfolios - Jupiter Financial Opportunities (unit trust), Jupiter International Financials (unit trust), Jupiter Global Financials (Sicav) and an offshore long/short hedge fund. Philip and Guy also manage a number of generalist portfolios**. Philip has established a record as one of the UK's finest long term investors, producing a return of 766% compared with 51% for the benchmark FTSE Financials Index since the Jupiter Financial Opportunities Fund was launched***. Robert Mumby, who joined the team in 2006, has built a strong reputation as a financials analyst and fund manager. He manages the Jupiter Global Financials (Sicav), an offshore long/short hedge fund and the financials portion of the Jupiter Global Managed Fund.  Since he started managing it on 31 May 2006, the latter has returned 29.05% compared with a fall of 21.66% for the benchmark Bloomberg World Financials Index.****

Philip Gibbs, head of Jupiter's financials team, said: "It has been an honour to have had such strong support from investors in the Jupiter Financial Opportunities Fund for the past 13 years but with the Jupiter Absolute Return Fund and Jupiter International Financials Fund having attracted such significant assets since their launch and my continued responsibilities for the management of Jupiter Second Split, it is prudent to shortly hand the day to day management of the Jupiter Financial Opportunities Fund to Guy. He has built a tremendous track record as a financials fund manager and has settled back into Jupiter extremely well and I am confident that his considerable investment skills will continue to add significant value for investors over the medium to long term."

Guy de Blonay, co-manager of the Jupiter Financial Opportunities Fund, said: "Jupiter's financials team has tremendous resources and flexibility and I am delighted to be working with Philip and Robert. The Jupiter Financial Opportunities Fund has produced substantial returns for investors since its launch and I am looking forward to building on the track record of the Fund and continuing to deliver outperformance for unitholders over the medium to long term. The financials sector remains a diverse and attractive area in which to invest and presents significant opportunities on a global basis for investors." 

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NOTE

* Source: Financial Express, bid to bid, net income reinvested
**Jupiter's financials team manages four financial portfolios as follows:

Financial Funds     Manager
Jupiter Financial Opportunities (unit trust).   Philip Gibbs/Guy de Blonay
Guy de Blonay from 1.1.11
Jupiter International Financials (unit trust)  Philip Gibbs
Jupiter Global Financials (Sicav)   Robert Mumby/Philip Gibbs
An offshore long/short hedge fund   Robert Mumby/Philip Gibbs

Philip Gibbs and Guy de Blonay also manage generalist onshore mutual funds and investment companies as follows:

Generalist funds
Jupiter Absolute Return (unit trust)   Philip Gibbs
Jupiter Second Split (Investment company)  Philip Gibbs
An offshore long/short hedge fund   Guy de Blonay

*** Source: Financial Express bid to bid net income reinvested to 30.9.10
**** Source: Jupiter from 1.7.2006 to 30.9.2010. Gross.

JUPITER FINANCIALS TEAM BIOGRAPHIES

Philip Gibbs - Fund Manager, Jupiter Financials Team
Philip Gibbs joined Jupiter in 1997 and has managed the Jupiter Financial Opportunities Fund (Unit Trust) since its launch in June of that year (until 1 June 2010 when he became Co-Manager). He also manages the Jupiter Absolute Return Fund (Unit Trust), the Jupiter International Financials Fund (Unit Trust), the Jupiter Second Split Trust plc, as well as institutional money and is deputy manager of the Jupiter Global Financials SICAV and an offshore long/short hedge fund.  Philip has had extensive experience as a stockbroking analyst specialising in equities of UK financial companies, having worked in relevant roles between 1983 and 1997 for both BZW and Laing and Cruickshank. Philip studied History at Cambridge University and is a Chartered Accountant.

Robert Mumby - Fund Manager, Jupiter Financials Team
Robert Mumby joined Jupiter in 2006 and is currently manager of the Jupiter Global Financials SICAV, manager of an offshore long/short hedge fund and manger of the Financials portion of the Jupiter Global Managed Fund.  Robert started his career in corporate finance at the Industrial Bank of Japan before moving to KPMG where he worked in audits, tax and corporate finance.  Prior to joining Jupiter, Robert worked for twelve years as an investment analyst specialising in financial services companies, most recently Canaccord Capital, but also HSBC, ABN and BZW/CSFB.  Robert has a BSc Mechanical Engineering from the University of Manchester and is a Chartered Accountant.

Guy de Blonay - Jupiter Financials Team
Guy joined Jupiter in an advisory capacity on the Jupiter pension fund in January 2010 from Henderson New Star. He became co-manager of the Jupiter Financial Opportunities Fund and manager of an offshore long/short hedge fund in June 2010. In his previous role, he was responsible for a number of mandates, including the New Star Global Financials Fund which he managed for nine years. Before joining New Star, subsequently Henderson New Star, Guy worked at Jupiter for six years.

JUPITER FINANCIAL OPPORTUNITIES FUND FACTS
. UK authorised unit trust
. Launch date: 2 June 1997
. Managed by Guy de Blonay and Philip Gibbs (from 1.6.10 to 1.1.11)
. Benchmarked against FTSE Financials Index
. Fees: 5.25% initial and 1.5% annual management charge
. Minimum investment: Lump sum = £500, Monthly saving = £50
. Sterling denominated

Jupiter Unit Trust Managers Limited (JUTM) and Jupiter Asset Management Limited (JAM) are both authorised and regulated by the Financial Services Authority and their registered address is 1 Grosvenor Place London SW1X 7JJ. The group is collectively known as "Jupiter". The above commentary represents the views of the Fund Manager at the time of preparation and may be subject to change, and this is particularly likely during periods of rapidly changing market circumstances. They are not necessarily those of Jupiter and should not be interpreted as investment advice. Past Performance should not be seen as a guide to future returns, the value of an investment and the income from it can fall as well as rise and may be affected by exchange rate variations. Every effort is made to ensure the accuracy of any information provided but no assurances or warranties are given.