Shaftan, who joined Jupiter 13 years ago, intends to step away from the industry later this year although she has expressed she will take "as long as necessary to ensure a smooth transition" and has been helping Jupiter identify a suitable candidate to support the team on her £214m Emerging European Opportunities Fund and €22m New Europe Luxembourg SICAV.
Regional specialist Croft had been her co-manager on both funds since joining the group in 2006. He is said to be a highly analytical, fluent Russian speaker who will continue to apply the process of focusing on bottom-up stock selection with an emphasis on companies that have strong management, solid finances and a competitive edge in their market.
Emerging markets expert Langridge, who has run the £22m Global Emerging Markets Fund since launch in 2010, will join Croft in co-managing both portfolios, adding her 30 years' experience in the GEM space.
Chief investment officer John Chatfeild-Roberts said: "We have built substantial expertise in emerging markets over the past decade and it is pleasing to be able to be able to draw from the strength of this team to replace Elena. Kathryn and Colin have the right combination of experience and local market knowledge to aim to deliver outperformance for clients.
"Elena has made a valuable contribution to the company and her clients over the past 13 years; we would like to thank her and wish her every success with the new path she has chosen to pursue."
Shaftan added: "It has been a remarkable journey and privilege to be part of the transformation that both European emerging markets and Jupiter have undergone. It has been a stimulating and fulfilling experience, and I would like to thank all those clients and colleagues who have supported me along the way."
Since launch in late 2002 the Emerging Europe Opportunities Fund has delivered a total return in sterling terms of over 250%, according to FE Analytics data, though it has struggled since 2010 (over three years, it is down 30%). In addition, the fund has failed to beat the benchmark MSCI EM Europe 10/40 over three, five and 10 years, and since launch.
