Richard Buxton, one of the City's best-known stock-pickers, is leaving Jupiter at the end of August — a move which will see him also retire from fund management.

Buxton, who joined Jupiter following the FTSE 250 asset manager's acquisition of Merian Global Investors in 2020, will hand over responsibility of his £585m UK Alpha fund to Ed Meier and Errol Francis. Jupiter said the fund's investment process and strategy will not change.