Jupiter Fund Management

Last updated
Jupiter Fund Management plc
Company type Public
IndustryInvestment management
Founded1985
Headquarters London, UK
Key people
Nichola Pease, Chairman
Andrew Formica, CEO
RevenueDecrease2.svg £405.6 million (2023) [1]
Increase2.svg £86.0 million (2023) [1]
Decrease2.svg £(12.9) million (2023) [1]
AUM £52.2 billion (2023) [1]
Website www.jupiteram.com

Jupiter Fund Management 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.

Contents

History

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] Between 2000 and June 2007 Jupiter was headed by Joint Group Chief Executives Jonathan Carey and Edward Bonham Carter. Jonathan Carey retired in 2010 after 23 years at the company. [3] Between June 2007 and March 2014, Jupiter was headed by Edward Bonham Carter (brother of British actress Helena Bonham Carter). [4]

Jupiter bought itself out from Commerzbank in a management buyout (MBO) in June 2007. [5] 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. [6] In December 2013, it was announced that Edward Bonham Carter would step down as chief executive of Jupiter in March 2014 and be replaced by Maarten Slendebroek. [7] [8]

The company acquired Merian Global Investors for consideration of £370 million in July 2020. [9]

Key people

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. [10] Ben Whitmore manages the Jupiter Income Trust [11] while Mark Nichols runs the Jupiter European Fund. [12]

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References

  1. 1 2 3 4 "Annual Results 2023". Jupiter Fund Management. Retrieved 22 February 2024.
  2. 1 2 John Duffield rebounds from fall of New Star Daily Telegraph, 15 April 2009
  3. 1 2 Jupiter deputy chairman Carey to retire City Wire, 8 December 2010
  4. ↑ Jupiter's £1bn IPO will brave market Daily Telegraph, 19 May 2010
  5. ↑ "Commerzbank agrees to sell Jupiter to its management and TA Associates". Jupiter. 20 March 2007. Retrieved 9 April 2016.
  6. ↑ "Jupiter valued at £755m after 2x oversubscribed IPO". Investment Week. 16 June 2010. Retrieved 9 April 2016.
  7. ↑ "Jupiter chief quits amid rising pressure". FT.com. December 2013. Retrieved 9 April 2016.
  8. ↑ "Chief Executive Bonham Carter to step down". eFinancial News. Retrieved 9 April 2016.
  9. ↑ "Jupiter faces challenges avoiding Standard Life Aberdeen fate as Merian deal completes". Portfolio Adviser. 1 July 2020. Retrieved 3 March 2021.
  10. ↑ "Jupiter's Chatfeild-Roberts advises caution on bonds". Portfolio Advisor. 16 December 2010. Archived from the original on 7 March 2011. Retrieved 9 April 2016.
  11. ↑ "Ben Whitmore". Citywire. Retrieved 3 March 2020.
  12. ↑ "Alex Darwall steps down as manager of Jupiter European". Investors Chronicle. 3 April 2019. Retrieved 3 March 2020.
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