Jupiter fund managers paying for equity stake

By Kira Nickerson Jupiter fund managers will have to put up their own money each year, in some cases six figure sums, to be part of the group's four-year rolling equity share scheme. Half of their remuneration through the scheme will be dependent on the growth of Jupiter's profits, while the other 50% will depend on the outperformance of a fund manager's portfolio against a given benchmark. The twist in the scheme is that the employees have to pay for their equity stake, although the shares do not have voting rights. Edward Bonham Carter, joint chief executive of Jupiter, said: "For so...