An announcement to the stock exchange this morning revealed that the managers, along with chief executive Edward Bonham Carter and other directors and employees, have sold shares equivalent to 6.8% of Jupiter’s issued share capital.
The placing represents just under half of the 65.9 million shares that have been vested or released from lock-in today, the one-year anniversary of Jupiter’s listing as a public company.
Other Jupiter independent directors and employees have opted not to offer shares for sale in the place-in and have agreed to fresh lock-in arrangements.
Shares held by this group and the selling shareholders “which have vested or been released from the IPO lock-in and which are not sold in the placing will be subject to a 90-day lock-in,” Jupiter added.
In a concurrent trading update, Jupiter revealed that assets under management rose by 3% from £24.1bn to £24.8bn in the first five months of the year, fuelled by £643m of inflows into mutual funds.
Market movements, however, wiped £74m from the value of those mutual funds over the same period, leaving total mutual fund AUM at £19bn. Movements in the first quarter of 2011 had a £100m adverse effect before a slight recovery in April and May.