Jupiter Asset Management is delighted to announce it has won a multi-asset equity mandate from the Joseph Rowntree Foundation.

The portfolio will have a core investment in UK equities, which will be managed by Ben Whitmore with ethical restrictions. Ben, who joined Jupiter in 2006, manages the Jupiter UK Special Situations unit trust as well as a number of institutional mandates.  He is a bottom-up stock picker who manages money with a clear, contrarian, value bias.

He aims to hold out of favour and lowly priced shares in companies which are nevertheless well run and have sound balance sheets - on the basis that any weakness is only temporary, be it for cyclical reasons or otherwise. The process of realising value with such contrarian calls can often take years, so the average holding period for a stock is likely to be high, with fund turnover consequently low.

Jupiter's charity clients are drawn from across the entire sector, including education, religion, health, conservation, welfare and culture. They encompass both large national charities and small local ones with existing assets totalling £125m as at 30 June 2009.

Charlie Crole, Institutional Client Director at Jupiter, said: "The Joseph Rowntree Foundation is a prestigious organisation and we are delighted to have won this mandate from them. Our appointment is an endorsement not only of Ben's strong investment record but also of Jupiter's broader investment and asset allocation skills, particularly in relation to larger institutional clients such as charities. Once again the strengths Jupiter has developed in the field of green and socially responsible investment, research and engagement during over the past 21 years have also been demonstrated."

 

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Notes to editors:

Jupiter Unit Trust Managers Limited (JUTM) and Jupiter Asset Management (JAM) are both authorized and regulated by the Financial Services Authority and their registered address is Grosvenor Place, London SW1X 7JJ. They are both subsidiaries of Jupiter Investment Management Group Limited and the group is collectively known as "Jupiter".