Jupiter Fund Managers’ decision to price its IPO at the lower end of expectations not only reflects stock market volatility, but also the wariness of investors to the manager’s future performance, retail sales and progress in reducing its debt burden. The majority view is that it will deliver: eventually.

UK asset manager Jupiter Fund Management last night priced its initial public offering near the bottom of its target range, enabling the flotation, scheduled for next week, to be more than twice oversubscribed.