Jupiter Fund Management

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.

Jupiter Fund Management plc
TypePublic
IndustryInvestment management
Founded1985
HeadquartersLondon, UK
Key people
Nichola Pease, Chairman
Andrew Formica, CEO
RevenueIncrease £443.5 million (2022)[1]
Increase £64.3 million (2022)[1]
Increase £47.9 million (2022)[1]
AUM£50.2 billion (2022)[1]
Websitewww.jupiteram.com

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]

References
  1. "Annual Results 2022". Jupiter Fund Management. Retrieved 24 February 2023.
  2. John Duffield rebounds from fall of New Star Daily Telegraph, 15 April 2009
  3. 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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