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Jupiter chief aims to calm sale fears

Jupiter chief executive Edward Bonham-Carter is striving to reassure IFAs that a change in the firm&#39s ownership will not affect its proposition or fund performance.

The move, aimed at allaying IFA fears that a new owner would lead to an exodus of personnel, follows the announcement this week by Jupiter&#39s parent Commerzbank that Gold- man Sachs is undertaking a full review of its global asset management operations.

Bonham-Carter says Jupiter&#39s fund managers are all tied in through share-incentive packages and, as its value lies in its human capital, a new buyer is unlikely to want any major upheaval.

The review is expected to result in the sale of Jupiter, with a price tag of around £600m, according to analysts.

Commerzbank paid £170m for a 75 per cent stake in Jupiter in 1995, paying £500m for the remaining 25 per cent in 2000.

Bonham-Carter says: “Cha-nges of ownership need not necessarily be bad for either staff or clients. The main value of Jupiter is in its staff and fund managers and any prospective buyer should want to preserve that. There is always a danger of someone buying a company for the wrong reasons but I think it is unlikely. If Jupiter were to be sold, I am sure the buyer would want to preserve what has made the business successful.”

BestInvest deputy managing director Jason Hollands says: “Jupiter has already been through one quite big upheaval recently and, in the context of that, this is probably not a major concern.”


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