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Jupiter boosts multi-manager credentials

Jupiter propelled itself into the top flight of multi-manager providers last week as it acquired the independent managed funds business of Lazard Asset Management.

The deal, for an undisclosed sum, will bring an extra £250m of assets to the group and will reunite Jupiter&#39s funds of funds team, led by John Chatfeild-Roberts, with the funds they managed at Lazard.

Chatfeild-Roberts and his team joined Jupiter from Lazard in February to set up the Jupiter&#39s multi-manager operations.

The deal will also bring Lazard&#39s personal portfolio service, the three Lazard portfolio unit trusts and Lazard&#39s Jersey-based personal portfolio fund into the Jupiter stable.

Jupiter says it will merge the three unit trusts – the income portfolio, growth portfolio and worldwide portfolio trusts – with its three corresponding funds of funds launched in May.

Jupiter joint managing director Steve Glynn says: “We have already witnessed substantial interest in the fund of funds area, evidenced by the significant growth of our portfolio funds in the last five months. We believe that this sector will continue to see excellent growth”

Lazard director Rupert Tyer says: “The sale of this business will enable us to concentrate wholly on the distribution of our in-house manufactured investment products, which are proving extremely successful.”

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Habib Akudi

Lives: Dewsbury, West Yorkshire.Born: 1972, Dewsbury.Education: Degree in economics, University of Greenwich.Career: 1994 – clinical auditor, Leeds NHS, 1995 – telesales, 1997- travelled extensively before joining Parsoli.Career ambition: To become the leading provider of Islamic financial services.Personal ambition: To take the company to being fully international.Likes: Playing football, Manchester United.Dislikes: Bad manners.Peers say: “Keeps cool-headed […]

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