Stephen Macklow-Smith retiring – The board of JPMorgan European Investment Trust has been informed by J.P. Morgan Asset Management that after 23 years with JPMorgan, all of which spent as the portfolio manager of the company, Stephen Macklow-Smith has decided to retire from asset management. He will leave J. P. Morgan Asset Management on 31st December 2020.
Alexander Fitzalan-Howard, Michael Barakos and Tom Buckingham will continue to manage the assets of the company and will be joined by three additional investment professionals, Zenah Shuhaiber, Timothy Lewis and Matt Jones.
JPMorgan European operates with two distinct pools of investments – an income portfolio and a growth portfolio. Michael and Tom will continue as co-managers of the income portfolio and will be joined by Matt. However, to reflect more clearly the different investment process employed by the income portfolio, as distinct from the growth portfolio, Alexander will no longer be a named co-manager on the income portfolio. He will remain a co-manager on the growth portfolio and will be joined by Zenah and Tim.
There is no change to the investment objectives or investment policies of either the growth or income portfolios. These management changes will come into effect on 31st October 2020.
Stephen has been an employee of JPMorgan since 1997. He was previously head of the European team at HSBC Asset Management. Prior to this, he was a fund manager of European pension fund assets at Henderson Administration.
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