Jupiter Asset Management, a UK-based asset management group, is in talks to sell its stake in UK digital bank Starling Bank at a price that implies a (roughly) 40% drop in valuation since April. At 7.6%, Starling is Jupiter’s largest holding in its UK mid-cap fund. The fund has experienced a 20% decline in value over the last three years. Jupiter’s need to avoid exceeding a 10% fund ceiling on unlisted holdings in its mid-cap fund is one of the driving forces for the sale – though Starling’s valuation has dropped, Jupiter’s other holdings in the fund have fared even worse.
Jupiter in Talks to Sell Stake in Digital Bank Starling
