Jupiter managers net £63m in shares sell-off

Jupiter Fund Management chief Edward Bonham Carter, brother of Hollywood actor Helena, and other executives banked almost £63 million after placing some of their holdings in the company after the end of a post-flotation lock-in.

Star fund managers Anthony Nutt and Philip Gibbs sold down the biggest stakes, both cutting their holdings by more than a third.

The sale of 26.19 million shares, or 5.7 per cent of the company, at 240p each, making a total deal size of 62.8m, fell short of the maximum 31 million shares touted earlier on Tuesday.

Bonham Carter, one of seven directors to sell, sold 555,103 shares, leaving him with a holding of 14 million, or 3.06 per cent of the company.

Nutt, who sold 7.5 million shares, still holds 2.84 per cent after the placing, and Gibbs 1.97 per cent after selling 5.3 million.

Jupiter said a number of directors and staff, including chief financial officer Philip Johnson, had opted not to sell shares in the placing.