Jupiter website
Jupiter Fund Management saw assets under management rise by 4%, climbing £1.8bn to £47.1bn in the first six months of the year.
However AUM fell £4.2bn compared to June 2024, it revealed in results to the end of June published today.
Group net outflows for the first half were £0.2bn, although ongoing institutional momentum and an improving retail picture produced net positive flows in the second quarter.
The fund manager said it had a “strong start to 2025 with growing momentum.”
It reduced total operating costs by £3.7m over the year to £125.4m, compared to £129.1m in the first six months of 2024.
Underlying profit before tax fell by around a third to £30.4m, from £47.9m in 2024. Statutory profit before tax dropped by around a quarter to £27.5m, down from £38.7m.
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Six months ended
30 June 2025
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Six months ended
30 June 2024
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Year ended
31 December 2024
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AUM (£bn)
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47.1
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51.3
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45.3
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Net flows (£bn)
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(0.2)
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(3.4)
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(10.3)
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Net revenue (£m)
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153.9
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173.7
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364.1
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Statutory profit before tax (£m)
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27.5
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38.7
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88.3
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Basic earnings per share (EPS) (p)
|
4.1
|
5.4
|
12.5
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Underlying profit before tax (£m)
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30.4
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47.9
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97.5
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Underlying EPS (p)
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4.2
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6.6
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13.4
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Total dividends per share (p)
|
2.1
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3.2
|
5.4
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Cost:income ratio1
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82%
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74%
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78%
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Source: Jupiter
Matthew Beesley, chief executive, said: “Although we still saw small outflows for the first half, we generated net positive flows in the second quarter. Momentum in the institutional channel is strong and we have seen a month-by-month improvement in retail demand over the time period. We have generated net positive flows so far in July.”
He said the company announced further efficiencies “as we work towards our target of a 70% cost:income ratio. Our operating model remains efficient and scalable, and we are excited to welcome our new colleagues at CCLA in due course.”
Earlier this month Jupiter announced it will acquire specialist asset manager CCLA Investment Management for £100m.
Mr Beesley added: “With a marked recovery in client sentiment across both channels, improving investment performance across all time periods and the strongest investment line-up we have ever had, there are good reasons to be optimistic that we can continue to build on this momentum going forward."
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