Jupiter Asset Management is delighted to announce the appointment of Ben Surtees as manager of the Jupiter Asian unit trust with effect from 1 September 2009.

Ben, who joined Jupiter in 1997, has worked on Jupiter's Asian desk since 2000 and has run the Jupiter Asia Pacific fund (Sicav) since 2005. He also manages the Asia ex Japan segment of the Jupiter Global Managed Fund.

During this period, he has established a strong track record. The Jupiter Asia Pacific Sicav, which has a different benchmark to the Jupiter Asian unit trust, has first quartile returns over one and three years. In the year to 31 July 2009, it has returned -1.6% in US dollar terms compared with -13.2% for the benchmark. Over three years, it has returned 34.8% against the benchmark return of 11.1%*.

Ben takes over the £46m Jupiter Asian fund from Philip Ehrmann, who has managed the portfolio since joining Jupiter in October 2006. Philip has worked as an emerging markets fund manager for 19 years and in the past seven years, has become increasingly focused on managing Chinese equities as China has evolved into a significant investment universe in its own right.

He launched the Jupiter China Fund in October 2006, a portfolio which has attracted some £177m under management. This Fund has produced first quartile returns since launch and over one year, with sterling returns of 62.7% and 25.0% respectively. The Jupiter Asian Fund has also outperformed the sector average, returning 30.7% since its reconstruction in October 2006 and 11.8% over the past year*.

Edward Bonham Carter, Chief Executive of Jupiter Asset Management, said: "The emerging economies of Asia are of increasing significance in the global economy and that has been reflected in the growth of both Jupiter's Asian expertise and our assets under management in the region. Ben has developed significant experience investing in Asian markets, having produced strong returns on the Jupiter Asia Pacific Sicav and we are delighted to increase his responsibilities."

Ben Surtees, manager of the Jupiter Asian Fund, said: "The outlook for Asian equities remains attractive as the two largest economies, China and India, should grow at 8% and 6.5% respectively this year, a remarkable achievement in light of the global backdrop. Overall Asian countries have not been afflicted by the issues that have undermined Western economies. Corporates and consumers are not highly leveraged, and the banking system continues to function well as exposure to 'toxic' assets were largely avoided. These factors should help support the evolution of a more domestically-orientated region."

The value of investments can fall as well as rise and may be affected by exchange rate variations.

- ENDS -


NOTES TO EDITORS

Source: Financial Express. Figures to 31 July 2009. Jupiter Asia Pacific fund (Sicav) figures based in US dollars while Jupiter Asian unit trust figures are based in GBP.

JUPITER ASIAN FUND FACTS
. Launched in October 2006 following a reconstruction of the Jupiter Far Eastern Fund - Japan element of fund was split out and merged into Jupiter Japan Income
. Managed by Philip Ehrmann since launch
. Benchmarked against the MSCI Asia ex Japan Index, which includes India but excludes Australia
. Minimum investment: £500 lump sum or £50 a month regular savings
. Charges: 5.25% initial and 1.5% annual

JUPITER ASIA PACIFIC FUND (SICAV)
. Launched in 2004
. A sub-fund of the Luxembourg-domiciled Jupiter Global Fund
. Registered for sale in Austria, Finland, France, Germany, Hong Kong, Jersey, Luxembourg, Sweden Switzerland and the UK
. Managed by Ben Surtees since 2005
. Benchmarked against the FTSE All World Asia Pacific Index, which excludes Japan, India and Pakistan
. Minimum investment: £1,000, $1,000 or ?1,000 lump sum, £50, $50 or ?50 regular savings
. Charges: up to 5% initial and 1.5% annual

BEN SURTEES BIOGRAPHY
. Joined Jupiter in 1997
. Over nine years experience working as a member of Jupiter's Asia team
. Manager of Jupiter Asia Pacific fund (Sicav) and the Asia element of the Jupiter Global Managed Fund
. Ben is a bottom-up stock picker who adheres to the GARP (Growth At a Reasonable Price) school of investing.
. Typically holds between 50-70 stocks and will usually look for opportunities among medium sized companies.

PHILIP EHRMANN BIOGRAPHY
. Joined Jupiter in 2006
. Over 29 years experience as a fund manager and 19 years specialising as an emerging markets fund manager
. Manager of Jupiter China Fund
. Philip is a bottom-up stock picker who adheres to the GARP (Growth At a Reasonable Price) school of investing.
. Typically holds portfolio of 40-50 stocks and will look for opportunities among small and medium sized companies.

ABOUT JUPITER
Founded in 1985, Jupiter has become one of the UK's leading fund management groups for private and institutional investors. We manage assets across a wide range of international and UK based mutual funds, multi-manager products, hedge funds, institutional mandates, and a variety of portfolios specialising in markets such as the UK, Europe, Asia and Emerging Europe, as well as specialist thematic investments such as socially responsible investments (SRI) and global financial equities.

Majority owned by employees since June 2007, Jupiter's independent structure reinforces our commitment to producing strong investment performance and high levels of customer service.

Jupiter has two Sicavs - the Jupiter Global Fund Sicav and the Jupiter Merlin Funds Sicav. These products are promoted in Europe by Martina Guenzl, who covers Austria, Germany and Switzerland and, Simon O'Donoghue, who covers Scandinavia and the Channel Islands.

Jupiter Asset Management Limited (JAM) is authorised and regulated by the Financial Services Authority in the UK. The registered address is 1 Grosvenor Place London SW1X 7JJ. The above commentary represents the views of the Fund Manager at the time of preparation and may be subject to change. 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.