MP banki Acquires All Shares in Jupiter Fund Management
MP banki has acquired all shares in Jupiter Fund Management. The fund management company was previously partly owned by MP banki. Other shareholders were employees of Jupiter, Ragnar Dyer, Sigurður Hannesson and Styrmir Guðmundsson. They will all continue in their positions at Jupiter. The negotiated price remains confidential.
Jupiter specialises in fund management and manages four mutual funds and one investment fund. Jupiters customers are mainly pension funds, insurance companies, assett management divisions of financial firms, asset management firms and high net worth individuals.
Assets Under Management with MP banki 54 Billion ISK
Jupiter´s assets under management amount to 10,5 billion ISK. Total assets under management by MP banki are now 54 billion ISK in total. The goal of both seller and buyer is to enhance and strengthen product development within both companies creating appealing investment opportunities for investors.
„We are proud of our excellent performance in asset management with our assets under management increasing steadily. Jupiter will remain independent as a firm and fund managers will hold their positions“ - says Sigurður Hannesson, CEO of Jupiter.
„I am pleased to finalise this agreement. We are on track to build up our asset management. Jupiter´s client base is comparable to clients of Alfa Securites which MP banki acquired in June. We seek to maintain an excellent relationship with this group as a privately owned and independent bank“ - says Sigurður Atli Jónsson,CEO of MP banki.
More information on Jupiter Fund Management: www.jupiter.is