Dan Nickols, head of Jupiter’s UK Small and Mid-Cap (SMID) equities team and current co-manager of Rights and Issues Investment Trust (RIII), is retiring at the end of June this year. Following Dan’s retirement, Matt Cable, currently Dan’s co-manager on the trust, will become its lead manager, thereby “ensuring continuity of the investment services provided by Jupiter” to RIII. In his role as RIII’s manager, Matt Cable will be supported by Tim Service, who is being promoted by Jupiter to serve as head of the SMID equities team following Dan’s retirement. Commenting on the transition, Dr Andrew Hosty, chairman of RIII’s board, said “Whilst we are sorry to learn of Dan’s intention to retire we have full confidence in the team’s succession plan and look forward to continuing the Company’s relationship with Jupiter. We would like to thank Dan and wish him well with his retirement.” Click here to read QuotedData’s most recent note on RIII.
[QD comment: RIII shareholders should not be concerned about this move. Matt is heir apparent and it looks like business as usual for the trust.]