The chief executive of Jupiter Fund Management has moved to draw a line under intense speculation that the FTSE 250 investment house is up for sale and has denied it will be the next UK asset manager to be acquired.

Analysts have repeatedly earmarked the London-based fund group as a likely takeover target and in recent weeks a handful of market executives had their meetings with Jupiter cancelled, fuelling speculation a deal was imminent. Two weeks ago the company cancelled a long-standing drinks engagement with journalists just days before the event.