Mr Uthayakumar and Mr Ensor previously worked at Martin Gilbert’s River Global before it was acquired recently by Liontrust. They are expected to start their new roles from January next year.

They were responsible for running the £149m Liontrust UK Listed Smaller Companies fund and the £79m River UK Micro Cap investment trust. The announcement follows a wider restructuring of Jupiter’s UK equities capability under the leadership of Alex Savvides and Adrian Gosden, who will lead the Income and Alpha investment teams.

The firm confirmed that Tim Service and Matt Cable will leave the firm in early 2027, with the income managers expected to take on management of Jupiter’s existing UK small and mid-cap range.

Mr Service joined the firm following the merger with Merian Global Investors and has co-run the Jupiter UK Mid Cap fund since 2023, alongside James Gilbert, and took over from Richard Watts, who was in sole charge of the Jupiter UK Specialist Equity fund.

Mr Cable oversees the Rights & Issues Investment Trust and Jupiter UK Smaller Companies.

Piers Hillier, chief investment officer at Jupiter, said Ensor and Uthayakumar bring “strong track records of delivering investment performance for both retail and institutional clients.”

“Today’s announcement reaffirms our commitment to our home market of the UK and, under the leadership of Alex Savvides and Adrian Gosden, we have built teams of high-quality investment managers across styles and market caps, with the ability to deliver positive outcomes for clients across the market cycle.”