Jupiter AM ended the first half of 2023 with a solid financial performance and growth in assets under management (AUM), despite an uncertain macro environment.
Underlying pre-tax profit increased by 56% to £46.4m (vs. £29.7m in H1 2022) and pre-tax profit increased by 85% to £34.8m pounds sterling (compared to 18.8 million in the first half of 2022).
Gross flows remained elevated at £7.7bn, supported by continued momentum from the institutional channel, and Jupiter generated modest net positive inflows throughout the period.
AUM was up 2% and closed the half year at £51.4 billion (£50.2 billion as at 31 December 2022).
Total dividends of 6.4 pence per share.
Matthew Beesley, Chief Executive Officer, ha commentato:
“We continue to diversify our client base: institutional AUM now represents 18% of the group’s assets and international AUM 36%. We have nearly completed the fund rationalization program and were able to identify higher than expected cost savings over the period.”
“Our strong capital position allows us to invest for growth and we expect to launch our range of thematic funds later this year. We are also returning capital to our shareholders through an extraordinary dividend.”
“It is clear from these results that our strategic focus is generating positive results and we are confident that continuing to pursue the strategy will help return Jupiter to sustained growth.”