Square Mile strips ratings from two Jupiter European funds

33 asset management groups interviewed

Square Mile Investment Consulting and Research (Square Mile) has removed the Jupiter European Special Situations and JGF Jupiter European Opportunities funds from its Academy of Funds – the firm's showcase of recommended and rated vehicles – following a series of 70 meetings with 33 asset managers during May.

The move comes after the funds' manager Cedric de Fonclare departed Jupiter Asset Management at the end of May. Mark Nichols and Mark Heslop have assumed responsibility for the two funds. However, Square Mile said it was appropriate to remove the ratings as they took "a different approach to investing in this region". Elsewhere, the AXA Framlington UK Select Opportunities fund was upgraded to an A rating. It had previously been awarded a Positive Prospect rating in early 2019 when Chris St John started running the fund. While his experience and long-term track record running UK mid...