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Jupiter Fund Management PLC on Friday reported a small rise in assets under management in the first half of 2025, though net flows remained slightly negative and profit declined. The company cut its interim dividend by more than a third. Shares were down 6.4% to 126.53 pence in London early Friday. Founded in 1985, London-based Jupiter is an active, ‘high conviction’ asset manager. AuM was £47.1 billion on June 30, up from £45.3 billion on December 31, though still down from £51.3 billion a year before. Net flows during the half year were negative £200 million, improved from negative £3.4 billion a year before. ‘Although we still saw small outflows for the first half, we generated net positive flows in the second quarter,’ Chief Executive Officer Matthew Beesley said. ‘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.’ Pretax profit for the half-year was £27.5 million, down from £38.7 million a year before, as net revenue declined to £153.9 million from £173.7 million. Diluted earnings per share were 3.9 pence, down from 5.3p. Underlying EPS was 4.2p, down from 6.6p. Jupiter cut its interim dividend by 34% to 2.1 pence per share from 3.2p. It said this was in line with its capital allocation policy of return returning 50% of pre-performance fee EPS. ‘Jupiter has delivered a strong start to 2025, with growing momentum in the first half of the year,’ CEO Beesley said. ‘Direct management actions over previous periods are driving meaningful changes, and we are beginning to see the tangible benefits come through in our results.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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