Henderson managers buy into Jupiter

A number of Henderson fund managers bought a 2% combined stake in Jupiter during the asset manager's IPO.

Graham Kitchen, who runs a number of equity products at the group, says the UK and European equity teams added the stock at the "very attractive" IPO price of 165p. The managers have already made a strong profit on the position, with Jupiter's share price conditionally trading at 190p last night, ahead of its full listing on Monday. Jupiter's IPO was more than 2.5 times oversubscribed after a strong take-up from both institutional and retail investors and Kitchen admits he would have liked to been able to obtain more of the asset manager. "Jupiter is a really good business, with go...