Sunday, 26 March 2017
Last updated 1 day ago
Jun 22 2011 | 9:58am ET
Senior staff at London-based Jupiter Fund Management have marked the first anniversary of the company's £220 million IPO by selling 6% of their holdings.
According to the Financial Times, the sellers—including CEO Edward Bonham Carter, CIO John Chatfeild-Roberts, and founder fund managers Tony Nutt and Philip Gibbs—raised about £62.4 million. The group was free to sell up to a third of their holdings at the expiration of a 12-month, post-IPO lock-in.
Following the sale, Bonham Carter, who sold 550,000 shares, becomes the single largest investor in the company, with a 3% stake.
Tuesday’s sale reduced employee ownership of the firm to about 30% from 37.8%, says the FT. Staff will be permitted to sell shares in two further tranches over the next two years.
Jupiter also announced that its AUM had climbed 3% during the first five months of 2011 to £24.8 billion. Jupiter is both a hedge fund and traditional asset manager.