View the article online at http://citywire.co.uk/wealth-manager/article/a732402
Jupiter's Elena Shaftan to retire from fund management
by Dylan Lobo on Feb 05, 2014 at 13:10
Elena Shaftan has brought the curtain down on a 13-year career with Jupiter Asset Management, Wealth Manager can reveal.
She will join forces with Colin Croft, who joined the team in 2006 and was appointed co-manager on the funds in January 2010.
Shaftan (pictured), who is retiring from fund management to pursue a career outside the industry, is helping Jupiter identify an emerging European investment expert to support the team.
Shaftan joined Jupiter in 2002 from AIB Govett and launched the Emerging European Opportunities fund in September of that year.
Her career on the fund can be divided into two broad periods.
In the years before the credit crunch the fund was one of the top emerging market funds, returning 284.3% up to May 2008 versus a 245.4% gain in its benchmark. The performance saw Shaftan consistently rated by Citywire, scoring between an A and AA-ratings.
However, following the collapse of Lehmans in September 2008 Shaftan found it harder to outperform, with her fund returning 50% in the five years to the end of December versus an 83.9% rise in the benchmark.
Jupiter chief investment officer John Chatfeild-Roberts said in a statement: 'We have built substantial expertise in emerging markets over the past decade and it is pleasing to be able to be able to draw from the strength of this team to replace Elena.
'Kathryn and Colin have the right combination of experience and local market knowledge to aim to deliver outperformance for clients. Elena has made a valuable contribution to the company and her clients over the past 13 years; we would like to thank her and wish her every success with the new path she has chosen to pursue.'
Shaftan said: 'It has been a remarkable journey and privilege to be part of the transformation that both European emerging markets and Jupiter have undergone. It has been a stimulating and fulfilling experience, and I would like to thank all those clients and colleagues who have supported me along the way.
'I am committed to remaining at Jupiter for as long as necessary to ensure a smooth transition, and wish the team all the best for the future.'
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.