Buyers still favour Jupiter Financials despite Gibbs move

Fund buyers have said Jupiter is still the fund group of choice for financials exposure following Philip Gibbs' decision to step back from the sector.

Gibbs’ move to concentrate on his absolute return portfolios, announced last week, came as the final stage in a process that had seen Guy de Blonay gradually take more control over Jupiter’s flagship offering in the financials space, the £606m Financial Opportunities fund. “We are avoiding funds with banking exposure at the moment, but the fund we would recommend would still be Jupiter Financial Opportunities,” said Chris Mayo, investment director at Wells Capital Investment Solutions. Ben Willis, head of research at Whitechurch Securities, agreed de Blonay is the natural choice for f...