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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Jupiter Fund Management Plc | JUP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.30 | 1.74% | 76.10 | 16:15:18 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 76.60 | 75.70 | 76.70 | 74.80 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Top Posts |
|---|
Posted at 22/2/2024 13:23 by florence141414 FWIW those look low to me. If rates drop and retail investors return to the market (which is higher margin for Jupiter) with outflows turning to inflows then those forecasts could even be blown out of the water. |
Posted at 22/2/2024 10:14 by mpage JUP investor relations publishes (infrequently updated) consensus estimates.hxxps://www.jupitera |
Posted at 10/1/2024 10:21 by jubberjim Don t think its any big lossThe chap and his fellow hoodlums have done nothing to inspire any confidence from the present day investors. So why on earth would the funds continue backing an underperforming individual. If he was any good the fund would not have lost cartloads of investors money over the last few years. Fall is overdone but that is not to say i won t take a profit when appropriate. 'Loss of Star Fund Manager' sells papers not much else. Good riddance |
Posted at 15/5/2023 14:46 by hamhamham1 Do they charge 2 and 20 for managing investors money?I can see the 20% mentioned (cut of profits) but hard to find the annual charge, I presume in the 2% area? |
Posted at 26/8/2022 17:47 by wunderbar This must be a proud moment for outgoing CEO Andrew Formica - for today, albeit momentarily, Jupiter officially became a penny stock, touching 99.3p before closing at 100.2p (down 4.2p/-4%). Note each penny of JUP's stock is worth £5.531m. This week alone has seen another £46m wiped off the market cap leaving JUP valued at just £554m compared to almost £1.5bn 12 months ago.According to interim report: "Jupiter remains a well-capitalised business with a strong balance sheet". Indeed, the balance sheet at 30 June showed £209m cash in bank. However, this excludes pending Interim payout (7.9p) equivalent to £43.69m. So assume cash reduced to £165m. This is very rough guess but based on such figures you might deduce 30% of JUP's market cap is hard cash. All of which leads to the big question - how low will this go? Impossible to say due to ongoing volatility, but given the rapid speed of decline there has to be a point (there always is) when the stock gains favour with investors or becomes a takeover target. I'm now pinning my hopes on a takeover, preferably one which will enable me to recoup a fair portion of my losses but nonetheless factoring in a worst case scenario 25-30% loss. Given this weeks further falls I'm revising my takeover price to 150-180p. Needless to say, the lower the share price goes the lower any takeout price is likely to be. I'm only favouring the takeover route because I want a relatively quick exit at a half reasonable price. I don't want this stock dragging on my portfolio indefinitely. I made a mistake on this one. End of. PS. Sometimes the market shines a little light. Today, one of my medium sized holdings (MCRO) received takeover bid sending share price up 93%. Sounds great but note bid was made with share price not far off historic lows, turning what had been a small paper loss into a half decent profit on my investment. Doesn't come close to covering losses on JUP though. Morale of the story - every stock has its price. |
Posted at 19/8/2022 15:40 by wunderbar HamHam, I think you're being extremely optimistic with a price target of 300p in 24 months. I'd dearly love that to be the case but doubt very much it will materialise in such a short timeframe. Perhaps 3-5 years is more realistic, if at all! Incidentally, 300p was my price target when I started buying into JUP back in February c.223p. However, a lot has changed in that time, namely Putin rolling his tanks into Ukraine and by doing so changing the worldwide economic landscape. Add to that JUP's gung-ho investment in Chrysalis, as well as their repeated failure to stem outflows, and what you’re left with is a share price caught in a dangerous tailspin. We seem to be hitting new all-time lows almost every week. At what point does this trend stop - are we not already in bargain territory @ 111p? Jupiter’s market cap is now just £616m (YTD share price down 58%) – how low does it have to go to before turning the corner, or ignite a takeover bid? At present my investment is down c.40% so I’ve no choice but to sit tight through this period of turmoil and wait for a recovery of sorts, ideally offloading into a rising share price. Given the poor sentiment in this sector I'd settle for 130-150p come end of year. In the short term I can't see it climbing above said levels unless instigated by a takeover rumour/bid, and should one materialise I’d hedge my bets on an offer price in the region of 170-190p.As for the dividend, I don’t think anyone should be fooled by the perceived current yield of 15%. Whilst the company intends paying out a full interim divi of 7.9p I reckon future payouts will be substantially cut, anything between 30-60%, which would still leave a healthy divi for investors at current price, but a hammer blow for investors who bought in much higher. On a final note I think it’s absolutely disgraceful that Andrew Formica is still CEO (albeit until 1 October when he steps down). In my opinion he should’ve been shown the door following the Chrysalis debacle. His 3½ year tenure has been an abject failure. He has only succeeded in destroying shareholder capital during his reign, somewhat ironic given this is a wealth management company. Naturally, he has been handsomely rewarded for his failure, drawing an annual salary of c.£450k (excluding bonuses etc). In his first year alone he walked away with £1.3m. And to rub salt into shareholders wounds he will remain within the company until the middle of next year to ensure a smooth transition with his successor. Surely shareholders should have a say in this matter. This is the man who has overseen the biggest capital destruction in the company’s history. Under his leadership JUP’s share price has fallen 69% wiping almost £1.4bn off the market cap. He should go now. |
Posted at 04/7/2022 13:48 by wunderbar Came across a weekend Times article with headline: Jupiter fundholders lose £200m on back of stakes in Chrysalis.I've pasted extract below - all of which further explains why CEO Andrew Formica announced he will be stepping down in a few months time (he's suddenly decided to retire at the ripe old age of 51!). IMHO, he's been asked to leave. Meanwhile, the share price misery continues with another all time low of 139p hit earlier today, leaving JUP with a market cap of just £780m. YTD share price down 47% (down 20% in past month alone). Absolutely shocking performance. "Jupiter Fund Management has come under fresh scrutiny as it emerged that 12 of its funds had stakes in Chrysalis Investments, landing fundholders with losses of more than £200 million over the past nine months. Chrysalis, a specialist listed company backing so-called "unicorns" and managed by Jupiter, wrote down its investments by £234 million this week and warned that it expected to have to make more writedowns as the valuations of growth companies tank. The affair has raised eyebrows with investors after Jupiter was able to take an unprecedented £117 million in fees from Chrysalis last autumn because of what the Chrysalis board now accepts was a flawed fee structure. The entire market value of the company today is less than £573 million." |
Posted at 28/6/2022 14:33 by wunderbar Jupiter names new chief executive as Andrew Formica prepares to exitNote I've tried pasting the article's text numerous times (even from Word doc) but ADVFN seems to be blocking it! Don't bother clicking link above as you'll hit a firewall. Simply Google the CEO's name and the FT article will appear in results, click on this and you'll be able to view the entire article. My comment below. From an investors point of view Andrew Formica has been a complete failure at Jupiter and many will say good riddance. His plan to stem outflows has clearly not worked and I suspect he's bowed to both internal/external pressure to step down. Since he joined in March 2019 the share price has fallen over 55%. In fact it recently hit an all time low of 150p and continues to languish at these levels, all of which means the dividend yield is now a whopping 11%. Is the market expecting a divi cut or offering up a genuine bargain? If it's too good to be true it often is. Perhaps we'll get an answer of sorts when they publish Interim results (29 July). JUP's market cap is now only £860m. The longer it stays at these depressed levels the more likely a predator will try and take it out on the cheap. Bearing in mind there was takeover talk last December when the share price was c.230p (£1.3bn market cap) this must be on somebody's radar given subsequent steep fall. I'd gladly accept an offer of 200p a share, even if it means taking a 10% loss. From my perspective this has been an abysmal investment. I've been buying into JUP since February - from 223p down to 152p. Let's hope things don't get any worse. |
Posted at 28/6/2022 11:58 by rcturner2 I don't think anyone is looking at asset managers at the moment they are massively under pressure from falling markets and negative investor sentiment.They are a geared play on the market so get a double dose of bad news on the way down. |
Posted at 29/5/2022 10:24 by devonbeachbum Admittedly I'm no expert here but just wondering if the sell off and share price fall is overdone here? Dividend cover was 1.85 last year and they had record AUM of £60.3 as recently as July 21. Got to be tough trying to even just maintaining that in current market conditions when everybody is running for the hills? Just putting that beside previous AUM's of £58.7B at final report of 2020 and 42.8B at 2019. Is the recent trading update of 55.3B AUM that bad and warrant the share price falls? Trying to find a competitor to compare over the same period and would welcome any replies. Aviva Investors reported a 5% reduction in AUM compared to previous year in their trading update over the same period. That would appear to be market sentiment - which is also reflected on this board right now. I've got a small investment here sitting on a loss but may look to add from dividends elsewhere. With the yield currently looking almost 10% at this price I'm thinking a year or two of compounding may offset the share price decline nicely. There are other financial companies / insurers / banks with similar share price trends at the moment. |
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