HEAD-TO-HEAD: Invesco vs Jupiter

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Manager review

The lead managers for the Invesco fund are Michael Fraikin and Thorsten Paarmann, according to Caquineau. Fraikin, who has 20 years of investment experience, has been responsible for the fund since its launch in 2002, while Paarmann, who has been with Invesco since 2004, became co-manager in 2007.

Both Fraikin and Paarmann are members of Invesco’s global quantitative strategies team, which has 40 members.

Caquineau said he has no concerns with the Invesco team. “With a strong and large team, there are enough resources for research, portfolio construction and trading implementation.”

Turning to the Jupiter fund, Caquineau said that the team is smaller.

The lead manager, Cédric De Fonclare, has been managing the Jupiter fund since 2003. He draws support from an associate portfolio manager who helps him with stock research.

De Fonclare also frequently collaborates with six other portfolio managers within the European team, Caquineau said.

“Those managers are also running their own portfolios, with sometimes a different style, so they can be of limited resources to De Fonclare for managing the fund.”

However, Caquineau believes that De Fonclare has ample resources to manage the portfolio, given his experience.

“In terms of support, the fund does not have the broadest support you can come across in that universe. But De Fonclare is compensating for the limited resources with his very long knowledge of the European stock market. He has been manging the fund for 15 years now and he knows the investment universe very well.”

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