Jupiter offloads private client assets to Rathbone Brothers

1st Apr 2014 07:17

Jupiter Fund Management is to dispose of its Private Client & Charities operations to Rathbone Brothers after a strategic review. The private client assets, which represent 7% of Jupiter's £31.7bn under management, are being offloaded to Rathbone Investment Management for £43m, assuming all the £2.1bn of in-scope client assets transfer to Rathbones.Chief Executive Maarten Slendebroek explained that the operations have been part of Jupiter since the group was founded in 1985."However, the group has evolved to become predominantly a mutual fund provider and we believe it is in the best long term interests of our private clients for them to transfer to Rathbones, a specialist wealth management organisation."BC