Is now the perfect time for Jupiter to sell wealth arm?

Wealth management giants including Rathbones, Towry and Quilter are said to be looking at a £50m acquisition of Jupiter's private client business, and a sale now could enable the group to pay a special dividend to shareholders, analysts have said.

Over the weekend it emerged the three groups are circling Jupiter's £2.2bn wealth arm. Talk of a sale of the business had quietly done the rounds at the start of 2013, but now appears to be more concrete. A sale now could enable Jupiter to pay a special dividend to shareholders, according to brokers Numis, something which could lift the group's share price. But there are a number of other compelling factors. Jupiter's private client arm remains small compared to its fund arms, holding just 7% of the group's overall assets under management. The division saw net inflows for the fi...