Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Jupiter boss pounces on share weakness with £15k purchase

Jupiter boss pounces on share weakness with £15k purchase

Maarten Slendebroek, chief executive officer of Jupiter Fund Management, has snapped up a larger stake in his company following its recent share-price slide.

Slendebroek (pictured) bought £15,000 worth of Jupiter shares yesterday at a price of £3.64 each; the stock had been trading 11% higher at £4.15 at the end of July.

The chief executive now owns 0.038% of Jupiter, a position worth over £600,000 at current prices.

Jupiter’s recent share-price weakness followed the release of its half-year results last week, when the group revealed pre-tax profit had fallen by 18% despite net inflows of £875 million.

Jupiter attributed the lower profit to costs incurred in the sale of its private client division, a writedown of its investment in Adria, and a one-off gain in the equivalent period of 2013 from the disposal of its stake in Cofunds.

Despite the recent correction, Jupiter’s share price is still up by 48% over the past three years compared with a 16% rise by the FTSE 100.

Last week Slendebroek also told Wealth Manager of Jupiter’s plans to return more cash to shareholders.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Play CIO Tapes: do investors have it as good as it gets?

CIO Tapes: do investors have it as good as it gets?

Citywire gathered three of the UK's leading fund investment heads to discuss what they fear and what makes them cheer about the year ahead

Read More
Your Business: Cover Star Club

Profile: Rathbone's Newcastle boss on the road to £1bn

Profile: Rathbone's Newcastle boss on the road to £1bn

Starting from zero assets on day one, Rathbone's Newcastle team now looks after just over £400 million in clients money

Wealth Manager on Twitter