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Jupiter CEO faces struggle as assets and profits crash
Evening Standard
|February 24, 2023
THE extent of the task facing new Jupiter chief Matthew Beesley was made plain today when he reported a crash in assets and profits.
Beesley has been CEO of the storied fund management group since last October and has to battle some troubling performance stats and wider scepticism that active fund management can add value to investors.
Schroders, the City institution founded in 1804, has its own similar problems.
For the year to December Jupiter funds fell 17% to £50 billion, a result of poor stock-picking and clients pulling money away. Profits crashed 68% to £58 billion.
Beesley, right, told the Standard: “It goes without saying but I will say it anyway — it has been a difficult year.”
Diese Geschichte stammt aus der February 24, 2023-Ausgabe von Evening Standard.
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