Investments  

Jupiter assets swell by £10bn

Jupiter assets swell by £10bn

Investment firm Jupiter Fund Management saw its assets under management (AUM) grow by just shy of £10bn to breach £50bn in the year to 31 December 2017.

Inflows of £5.5bn contributed to the increase in assets under management, compared to net inflows of £1bn in 2016.

The remainder of the asset growth came from investment returns. Assets under management of £50.2bn compared with £40.5bn at the end of December 2016.

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Profits were £192m, compared with £171m for the same period in 2016, an increase of 13 per cent.

An increase in fund management fees to £392m contributed to the profit growth. The increase in fees was 19 per cent in percentage terms.

Maarten Slendebroek, chief executive of Jupiter said: "These achievements support our belief that a strategy of continued diversification drives value creation for our clients and shareholders alike.

"Jupiter's straightforward, agile operating model and resilient balance sheet means we are well-placed to deliver continued growth as our clients' investment needs change and grow."

Jupiter’s dividend increased by 20 per cent to 32.6p.

David.Thorpe@ft.com