Jupiter Annual Report 2010 - Jupiter Asset Management

Jupiter in brief | Who we are
Jupiter in brief
Our business
Since our formation, we have focused primarily on our core
competency of managing equity investments on behalf of private
and institutional investors across a wide range of products. These
have included UK and offshore mutual funds, multi-manager and fund
of funds products, segregated mandates and investment trusts.
This core strength is complemented by capabilities in fixed income,
hedge and absolute return funds.
Our aim is to deliver investment outperformance for our clients over
the long term and we seek to achieve this by allowing talented fund
managers the freedom to pursue their own individual investment
approaches. We believe it is this culture that has helped us build a
strong long-term track record of investment outperformance. We also
actively encourage fund managers to invest their own money into our
funds. This means our fund managers’ interests are aligned with
those of our clients.
Our main operations are centred in London, where all our fund
managers and the majority of our support staff are located.
As at 31 December 2010, we employed 402 staff of whom 386
were based in the UK.
Our reputation for delivering long-term investment outperformance
has earned us over 100 awards in the last five years, including the
What Investment ‘Best Group’ award for 2010 and 2009 and the Old
Broad Street Research Ltd ‘Outstanding Investment House’ Honour
for 2009.
Our history
Launched in 1985 as a specialist boutique, Jupiter has become
one of the UK’s most respected and successful fund management
groups. From our origins as a manager primarily of investment trusts
and private client portfolios, we expanded into institutional fund
management before mutual funds became the key engine
of growth.
In 1991, the holding company of the Group, Jupiter Investment
Management Group, was listed on the London Stock Exchange.
Commerzbank AG acquired a 75 per cent. controlling interest in
the Group in 1995 and acquired the remaining 25 per cent. from
management and employees in 2000.
In 2007, Commerzbank AG sold the Group to its employees through
an MBO supported by private equity firm TA Associates, Inc, and
other minority investors. All employees were given the opportunity
to acquire shares in the Company and 98 per cent. of staff had an
interest in the Company at Listing.
Jupiter employees continue to own 38 per cent. of the equity after
Listing. This culture of employee ownership has been reinforced by
the successful launch of our Sharesave scheme in the second half
of the year, with 76 per cent. of our eligible employees choosing
to subscribe.
Asset class Product type Client geography Invested assets geography
1%
83%
1%
76%
7% 2%
1%2%
90%
7%
5%
43%
16%
14%
34%
Equities Fixed Income Other
Mutual funds
Private clients
Hedge funds
Segregated mandates
Investment trusts
UK Continental Europe
Hong Kong/Taiwan RoW
18%
UK Europe Global Other
Equity focus Retail focus UK client base International exposure
All graphs as at 31 December 2010.
Annual Report & Accounts 2010 8 Jupiter Fund Management plc