Bond manager Alejandro Arevalo is set to leave Jupiter Asset Management in early 2025, a Jupiter spokesperson has confirmed.
Co-manager of four different emerging market fixed income strategies, including the IA funds Jupiter Emerging Market Debt and Jupiter Emerging Market Debt Income, Arevalo is responsible for running a total of £572m of assets under management.
After his departure, co-manager Reza Karim will be taking up the leadership of the funds. Jupiter remains “entirely confident” the transition will be “seamless” for clients, as all of Jupiter’s emerging market debt funds are managed on a team basis, a spokesperson said.
Arevalo’s tenure on these funds began in July 2020 and since then, the Emerging Market Debt fund has beaten the average IA Global EM Bond peer by four percentage points. The income strategy wasn’t as successful, as the chart below shows.
Performance of funds against sector and index since July 2020
Source: FE Analytics
The firm announced plans to expand the team as emerging market debt remains “an important asset class for Jupiter”.
A spokesperson said: “We have a strong team in place with the potential to materially increase our scale in this area, particularly in the institutional channel, as our clients’ needs continue to evolve”.
“To this end, we will be looking to supplement the team with additional investment talent in due course.”