Jupiter Fund Management

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Jupiter Fund Management plc
Type Public (LSEJUP)
Industry Investment management
Founded 1985
Headquarters London, UK
Key people Jamie Dundas, Chairman
Maarten Slendebroek CEO
Revenue £388.8 million (2013)[1]
Operating income £116.2 million (2013)[1]
Net income £88.6 million (2013)[1]
Website www.jupiteronline.co.uk

Jupiter Fund Management (LSEJUP) 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.

History[edit]

The company was established by John Duffield in 1985[2] 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.[2]

Since 2000, Jupiter has been headed by Edward Bonham Carter (brother of leading British actress Helena Bonham Carter).[3]

Jupiter bought itself out from Commerzbank in a management buyout (MBO) in June 2007.[4] 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.[3]

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.[5]

In December 2013, it was announced that Edward Bonham Carter would step down as chief executive on Jupiter in March 2014 and be replaced by Maarten Slendebroek.[6][7]

Key people[edit]

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.[8]

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,[9] despite the turmoil affecting the sector globally. He is due to retire from fund management in October 2014.[10] Anthony Nutt, who joined Jupiter in 1996, manages the Jupiter Income Trust while Alexander Darwall runs the Jupiter European Fund.[11]

References[edit]

  1. ^ a b c Preliminary Results 2013
  2. ^ a b John Duffield rebounds from fall of New Star Daily Telegraph, 15 April 2009
  3. ^ a b Jupiter's £1bn IPO will brave market Daily Telegraph, 19 May 2010
  4. ^ Commerzbank agrees to sell Jupiter to its management and TA Associates Press release, 20 March 2007
  5. ^ Jupiter valued at £755m after 2x oversubscribed IPO Investment Week, 16 June 2010
  6. ^ Jupiter chief quits amid rising pressure FT.com, December 2013
  7. ^ Chief Executive Bonham Carter to step down eFinancial News
  8. ^ Jupiter's Chatfeild-Roberts advises caution on bonds Portfolio Advisor, 16 December 2010
  9. ^ Wall Street Journal (January 7, 2009). "Jupiter fund's Gibbs scores positive return for 2008". The Wall Street Journal. Retrieved Feb 6, 2009. 
  10. ^ CityWire (July 16, 2013). "Philip Gibbs to retire from fund management". CityWire. Retrieved Nov 19, 2013. 
  11. ^ "Alexander Darwall". Citywire. Retrieved 22 March 2014. 

External links[edit]