Jupiter Fund Management's Ben Whitmore to stay on until October

Jupiter Fund Management said on Wednesday that star fund manager Ben Whitmore will remain with the company until October after news of his exit wiped millions from its valuation back in January.

Jupiter, which manages roughly £52.0bn for clients, shocked investors earlier in the year upon its revelation that long-standing fund manager Whitmore will depart the group in order to establish his own boutique investment firm. Shares fell almost 15% in a single day on the back of the news.

The London-listed company tapped Alex Sivvedes from rival JO Hambro Capital to replace Whitmore later in the year and has also poached two of his current team, Stephanie Geary and Siddharth Sukumar, to work alongside him at Jupiter.

However, Jupiter has now revealed that Whitmore will now stay on longer than expected in order to "facilitate a seamless handover with his successors", with Sivvedes set to take over the £1.6bn Jupiter UK Special Situations Fund on 7 October.

As of 0920 BST, Jupiter shares were up 0.71% at 83.79p.

Reporting by Iain Gilbert at Sharecast.com