UK asset manager Jupiter has confirmed it will launch its new Asian Income fund for recent recruit Jason Pidcock in February 2016, the company had announced.
Pidcock formally joined the group this month after having stepped down from Newton Investment Management in the spring. He was brought on board to develop an Asian income fund.
It was taken on by Robert Marshall-Lee following his exit and assets in the blockbuster fund currently sit at £2.3 billion (€3.27 billion), which is a decrease from the £4.4 billion (€6.17 billion) at the time of Pidcock's departure.
The new strategy, which is called the Jupiter Asian Income fund, will invest across the Asia Pacific region ex Japan, investing primarily in developed markets including Australia, New Zealand and Singapore.
The company also said the fund seeks to deliver income and long-term growth having a bias toward large caps in the region.
Commenting on the fund launch and his new role, Pidcock said: ‘Managers at Jupiter seemed to be given a unique freedom and independence to shape their own portfolios and this is something I will appreciate as I build my strategy.’
‘The fall in markets over the past six months has thrown up a lot of exciting opportunities, and I’m champing at the bit to get started.’
Prior to joining Newton in 2004, Pidcock was responsible for stock selection and asset allocation in the Asia ex-Japan region for BP Investment Management having previously worked at Henderson Asset Management for more than two years as an assistant fund manager.