Jupiter Fund Management reports dip in 1H AuM

Jupiter Fund Management reported a dip in assets under management for the first half of the year.

Assets under management dipped from £51.4bn one year before to £51.3 at the end June.

That was partly the result of £3.4bn of net outflows.

However, the firm attributed those outflows chiefly to the anticipated changes to its Value equity team and to the management of Chrysalis Investment Trust.

Excluding those impacts, underlying net outflows were £0.2bn, Jupiter said.

Net revenues meanwhile declined by 4.0% to reach £173.7m, while the cost:income ratio worsened from 71% to 74%.

Yet underlying profit before tax was 3.2% higher at £47.9m.

That resulted in underlying earnings per share of 6.6p for the period, against 6.7p in the comparable half of 2023.

Management declared an ordinary dividend of 3.2p per share.