Jupiter Asset Management is looking to acquire the investment team and assets managed by Origin Asset Management, a London-based global investment boutique, as part of a wider review of its emerging markets offering.
Under the terms of the transaction, over £800m (€951m) of predominantly institutional assets currently managed by Origin will transfer to Jupiter, subject to approval, it was announced today.
Additionally, the Origin investment team of five investment professionals will move to Jupiter on completion of the transaction, with their investment process remaining intact, Jupiter said in a statement.
The acquisition is consistent with the firm’s strategy of building scale, including in the “strategically important growth areas of the institutional client channel and the group’s international business”, it said.
“Origin brings Jupiter additional scale in global emerging markets and provides international ex-US, and global smaller companies investment capabilities, areas of identified demand that broaden the firm’s ability to appeal to a wider range of clients,” Jupiter stated.
Origin invests using a quantitative screening approach, combining proprietary algorithms and data with qualitative due diligence from its investment team.
However, a Jupiter spokesperson declined to comment on whether Jupiter’s current emerging market funds would close or be incorporated with any being transferred over from Origin.
Jupiter runs several emerging market bond and equity funds, including the Jupiter Global Emerging Markets Focus Fund which is managed by Nick Payne, lead investment manager for global emerging market equities.
Jupiter has also disclosed that Payne will leave the business at the end of 2024 to “pursue other opportunities”, having spent seven years at the firm. Jupiter’s spokesperson declined to confirm whether Payne would be replaced. Payne could not be reached for comment by press time.
Origin’s assets to be transferred to Jupiter are predominantly held in long-standing institutional segregated mandates for a globally diversified client base, spanning Europe, Canada and Australia.
Kiran Nandra, head of Equities, at Jupiter, said: “I believe the addition of the Origin team provides a compelling option for clients of both firms on Jupiter’s platform as we seek to broaden our offering.
“In addition to bolstering our global equities range and giving us a new global smaller companies capability, the acquisition is an important part of our efforts to increase scale across our emerging markets capabilities as we look to build truly differentiated investment propositions.”
Tarlock Randhawa, managing partner at Origin, added: “We are excited to be part of the Jupiter team, whose truly active and differentiated investment management philosophy and culture aligns with ours, and whose strong client-centric ethos is very clear.”
He also noted that the transition for Origin’s existing clients “will be seamless”, as he believes they “stand to benefit from Jupiter’s focus on excellence in client experience”. He added: “As well as the benefits to existing clients, we will be well-placed to grow our client and asset base over time.”
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