Reuters – Jupiter Asset Management told Reuters it has hired high-profile former Gartmore fund manager Philip Ehrmann and will launch a new China fund for him to handle.
Ehrmann, who was Head of Pacific & Emerging Markets at Gartmore, ran 2 billion pounds of assets for the firm including the 221 million pound China Opportunities fund, the 268 million pound Emerging Markets Opportunities fund and a hedge fund.
He left the firm last month after it decided to merge its two Global Emerging Markets teams. In May Gartmore was sold by Nationwide Mutual Insurance to U.S. private equity firm Hellman & Friedman and current management.
Jupiter said on Friday it planned to launch a new China fund for Ehrmann, subject to approval from the Financial Services Authority.
“The emerging economies of Asia, and in particular China, are exerting an increasing influence over the global economy, and we are delighted to have attracted Philip to work with Simon Somerville and Ben Surtees on the Far East desk,” Jupiter joint chief executive Edward Bonham Carter said.
