Jupiter Fund Management
|Type||Public (LSE: JUP)|
|Key people||Jamie Dundas, Chairman
Edward Bonham Carter, CEO
|Revenue||£346.4 million (2012)|
|Operating income||£75.5 million (2012)|
|Net income||£56.2 million (2012)|
Jupiter Fund Management (LSE: JUP) is a UK fund management group, managing equity and bond investments for private and institutional investors. The company manages assets across a wide range of international and UK based mutual funds, investment companies and institutional mandates, as well as providing wealth management services. The Company offers a variety of equity portfolios specialising in markets such as the UK, Europe, Asia and other emerging European nations, as well as multi-manager funds and specialist thematic investments such as absolute return funds, socially responsible investment funds and global financial funds. It also has a growing fixed interest franchise, with a focus on investing in high grade corporate bonds, strategic bonds and convertibles. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The company was established by John Duffield in 1985 and later sold to German bank Commerzbank in two tranches in 1995 and 2000. John Duffield left in 2000 after a public row with the company's new owners and set up a rival fund group, New Star Asset Management in 2001.
Jupiter bought itself out from Commerzbank in a management buyout (MBO) in June 2007. Around 95% of the company's staff then became shareholders. US private equity firm TA Associates supported the MBO and held a minority stake in the business.
On 21 June 2010, Jupiter floated on the London Stock Exchange at 165p a share. Employees retained around 41% ownership of the Company on the day it listed and TA Associates reinvested in the business, taking its shareholding to around 22% on the day of admission to the London Stock Exchange.
As well as Edward Bonham Carter, Jupiter is home to a number of well-known fund managers. John Chatfeild-Roberts joined Jupiter with his team from Lazard Asset Management in 2001: he manages fund of fund portfolios and in February 2010 took over as Chief Investment Officer.
Philip Gibbs (great-grandson of First World War writer Sir Philip Gibbs) joined the company in 1997. He manages absolute return funds and while managing a financials fund, managed to make a positive return for investors in 2008, despite the turmoil affecting the sector globally. He is due to retire from fund management in October 2014. Anthony Nutt, who joined Jupiter in 1996, manages the Jupiter Income Trust while Alexander Darwall runs the Jupiter European Fund.
- Preliminary Results 2012
- John Duffield rebounds from fall of New Star Daily Telegraph, 15 April 2009
- Jupiter's £1bn IPO will brave market Daily Telegraph, 19 May 2010
- Commerzbank agrees to sell Jupiter to its management and TA Associates Press release, 20 March 2007
- Jupiter valued at £755m after 2x oversubscribed IPO Investment Week, 16 June 2010
- Jupiter's Chatfeild-Roberts advises caution on bonds Portfolio Advisor, 16 December 2010
- Wall Street Journal (JANUARY 7, 2009). "Jupiter fund's Gibbs scores positive return for 2008". The Wall Street Journal. Retrieved Feb 6, 2009.
- CityWire (JULY 16, 2013). "Philip Gibbs to retire from fund management". CityWire. Retrieved Nov 19, 2013.