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Jupiter stuck inside Chrysalis

The issues surrounding Jupiter’s direct involvement in listed, but illiquid, investments continue to sap the fund manager
Jupiter stuck inside Chrysalis
  • Illiquid investments still the bane of fund managers
  • Chrysalis left naked by tech retreat

Keeping track of newsflow at Jupiter Fund Management (JUP) has been a challenge recently after the abrupt retirement of chief executive Andrew Formica at the age of 51. Whatever the immediate circumstances of Formica’s retirement – he is replaced by chief investment officer Matt Beesley, who while an experienced funds veteran, has never run a public company – the news was overshadowed by the ongoing controversy generated by Jupiter’s close involvement with Chrysalis Investment Trust (CHRY), where rows over ill-designed performance fees and the wider issue of mainstream managers investing funds in illiquid and unlisted companies have dominated the headlines.

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