Jupiter’s new CEO targets product development push

Jupiter’s Maarten Slendebroek is to focus on developing and launching more products when he takes over as chief executive from Edward Bonham Carter next month.

Speaking to Investment Adviser following Jupiter’s full year results statement this morning, Mr Slendebroek - currently distribution and strategy director - said he had spent much of his time since joining the firm in 2012 “getting sales and marketing in order”.

“Last year we were very busy building the right vehicles, for example, new share classes and hedging products,” he said.

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“I’ve been head of strategy for a year-and-a-half, and focused on getting sales and marketing in order. This year it will be product launches and development, although we are not ready to say anything specific yet.”

Mr Slendebroek highlighted the hire of US small cap specialist Robert Siddles from F&C Asset Management, which has added the manager’s £155.9m F&C US Smaller Companies investment trust to Jupiter’s product stable.

He added that James Clunie’s overhaul of the Jupiter Absolute Return fund was “a renewal of that existing strategy”.

Last year Jupiter launched a Global Equity Income fund, run by Sebastian Radcliffe and Gregory Herbert, and an offshore multi-manager product managed by Algy Smith-Maxwell.

In its full year results this morning Jupiter revealed a 20 per cent increase in assets under management driven by strong inflows and product performance. Outgoing chief executive Mr Bonham Carter also highlighted the group’s net cash balanced of £160m having paid down its debt.

Meanwhile Mr Bonham Carter said the company was “exploring options” for the future of its private clients business. Speculation in markets has circulated in recent weeks linking Jupiter with a potential sale of this arm of the company, but Mr Bonham Carter did not elaborate on future plans.