Jupiter Fund Management has received the Fair Tax Mark today from the Fair Tax Foundation.
The Fair Tax Mark credits organisations paying the right amount of corporation tax at the right time and in the right place. As well as accreditation signalling investment firms are practicing what they preach in terms of helping deliver public services and build necessary infrastructure, the mark is a useful indicator when assessing investee businesses.
Listen to ESG Out Loud’s podcast with Epworth’s head of ethics for more on why ESG managers can’t shy away from tax issues just because they are harder to assess.
Jupiter joins Epworth as UK investment firms that have been awarded the mark, with advice firms Ethical Investors and Schroders Personal Wealth also on the list. However, Jupiter today becomes the first global fund manager to secure accreditation.
As part of the accreditation, Jupiter has published a detailed country-by-country breakdown of its financial performance, which includes taxes paid in each jurisdiction as well as income and profits. It has also published a comprehensive tax strategy.
Wayne Mepham, chief finance officer at Jupiter, said: “Jupiter is proud of our tax strategy and approach to tax governance and risk management. Our responsible tax conduct underpins our commitment to society to pay the right tax at the right time and in the right place.
“The accreditation by the Fair Tax Foundation is testament to our commitment to do the right thing in relation to our tax conduct and how we seek transparency of our tax affairs for the benefit of our clients and other stakeholders.”
Paul Monaghan, CEO of the Fair Tax Foundation, added: “Jupiter rightly takes real pride in the contribution its tax makes to society, and long may it continue.”