We recently had a meeting with the newly-appointed manager, Mark Nichols, who will be co-managing the Jupiter European and JGF-Jupiter European Growth funds from the 1st of October 2019. He is in the process of building out a supporting team, who are due to join the group later on in the year. Mr Nichols is an experienced investor. However, in our opinion, whilst many of the manager's plans appear promising, it may take some time for the new team to fully settle in at Jupiter, and the portfolios to therefore reflect the new team's investment approach. Moreover, they have a different investment philosophy to that of the current fund manager, Alexander Darwall, who will continue to run these funds until October, and will be subsequently leaving the group.

As a result, we have taken the decision to remove the Jupiter European & JGF-Jupiter European Growth funds from the Academy of Funds.