Jupiter Asset Management is delighted to announce the appointment of Patrick Harrington as manager of the Jupiter Undervalued Assets Fund.

Patrick, who joined Jupiter on 23 February 2009, has over 20 years experience managing UK equity portfolios. Following a hand-over period, he will take over management of the £122m Jupiter Undervalued Assets Fund from Edward Bonham Carter at the end of March 2009. In addition to managing this Fund, Patrick will add significant resource to Jupiter's highly-regarded UK desk, which currently includes managers such as Philip Gibbs, Anthony Nutt, Ian McVeigh, and Ben Whitmore.

For the past three years, Patrick has worked as an investment manager at OLIM Ltd as part of the UK equity team, running institutional mandates with an income bias and the equity component of the Value & Income Trust PLC - a property and equity income portfolio. He also co-managed the CF OLIM UK Equity Fund between September 2005 and September 2008. In this period the Fund produced a return of 5.37% against -4.30% for the IMA Equity Income sector average.*

Prior to his role at OLIM, he worked as Director of UK Retail Equity Income Funds at Henderson Global Investors for three years, managing the Henderson UK Equity Income Fund and the Henderson UK Extra Income Fund. Between 1988 and 2001, Patrick worked at M&G, running a number of portfolios, including the M&G Dividend Fund, the M&G Charifund, the M&G Extra Income Fund and the M&G High Yield Distribution Fund.

During Edward's tenure as fund manager, the Jupiter Undervalued Assets Fund has produced a return of 16.33%, compared with -14.57% for the IMA All Companies sector average and -9.47% for the FTSE All Share Index. This return places the Fund 16th out of all 191 funds in the sector.* *

Edward Bonham Carter, Chief Executive of Jupiter Asset Management, said: "I have thoroughly enjoyed managing the Jupiter Undervalued Assets Fund in the past eight years and am pleased to have produced a top decile performance for investors during my tenure. However, having attracted a fund manager of Patrick's calibre to Jupiter who has a similar investment philosophy to me, I feel that now is the right time to hand the portfolio over. I am delighted to welcome Patrick to the team."

Patrick Harrington added: "Jupiter is one of the most respected fund management groups in the UK and has an excellent reputation managing assets across a broad range of markets. I am delighted to be joining the team and taking on the management of the Jupiter Undervalued Assets Fund."

-ENDS-
 

Notes to Editors
* Source: Lipper from 5.9.2005 to 30.9.2008. Bid to bid, net income reinvested.
** Source: Lipper from 31.12.2000 to 31.1.2009. Bid to bid, net income reinvested

JUPITER UNDERVALUED ASSETS FUND FACTS
UK authorised unit trust
Launch date: 15 May 2000
Managed by Adrian Paterson until 31.12.2000 and by Edward Bonham Carter from 31.12.2000 to 31.3.2009
Benchmarked against FTSE All Share Index
Fees: 5.25% initial and 1.5% annual management charge
Minimum investment: Lump sum = £500, Monthly saving = £50
Sterling denominated

NOTE
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.