Jupiter Asset Management is pleased to announce that Alastair Gunn and Rhys Petheram have been promoted with effect from today to become co-managers of the Jupiter Distribution Fund alongside Anthony Nutt and John Hamilton.

Alastair and Rhys have each worked as part of Jupiter's fund management team for more than three years and their promotions are part of Jupiter's ongoing programme of developing its highly respected team of fund managers by promoting in-house talent and, where appropriate, hiring externally. Most recently, Jupiter has added to its bond team, appointing convertibles specialists Miles Geldard and Lee Manzi and by adding Guy de Blonay to the market-leading financials team of Philip Gibbs and Robert Mumby.
 
Alastair joined Jupiter in 2007 to work alongside Head of UK Equities Anthony Nutt. He joined the Company from Arbuthnot Securities where he had been director of Equity Research since 2003. Before that he worked as a Managing Director of Equity Research for Bear Stearns International.
Rhys has worked alongside John Hamilton, Head of Fixed Interest, since 2006. Prior to joining Jupiter, Rhys was a Credit Analyst at Moody's Investor Services and before that was an Analyst at Towers Perrin Australia. 

The £261m Jupiter Distribution Fund has been managed by Anthony Nutt and John Hamilton since its launch in March 2002. The Fund, which has a minimum of 60% of its portfolio invested in fixed interest and the balance invested in equities, has produced a return of 16.22% during the past year compared with 15.60% for the IMA Cautious Managed sector. Since launch the Fund has returned 37.82% compared with 33.36% for the sector average*.

John Chatfeild-Roberts, Chief Investment Officer at Jupiter Asset Management, said: "Jupiter has a strong reputation for successfully developing its fund management team over the past decade, both by promoting talented individuals through the business and making strategic external hires where appropriate. Alastair and Rhys have worked hard supporting Anthony and John and we believe the time is right for them to embark on the next stage of their development."

- ENDS -

Notes to Editors

* Source: Financial Express, bid to bid net income reinvested. Figures to 31.5.10

Jupiter Asset Management (JAM) is authorised and regulated by the Financial Services Authority, 25 North Colonnade, Canary Wharf, London E14 5HS. JAM's registered address is 1 Grosvenor Place, London SW1X 7JJ. It is a subsidiary of Jupiter Investment Management Group Limited and the group is collectively known as "Jupiter".