Jupiter profits rise 56% in H1 amid cost-cutting drive

Small positive net inflows

Jupiter Asset Management’s profits have risen significantly in the first half of 2023 despite posting lower net revenues as the firm continues its cost-cutting drive.

In its half-year results published today (27 July), the asset manager said underlying profit before tax increased 56% to £46.4m from the same period last year and statutory profit before tax grew 85% to £34.8m.  Total assets under management increased by 2% to £51.4bn on the positive net flows and investment performance of £1.2bn. Following positive net inflows in the second half of 2022, this is the first 12-month period of net inflows since 2017. The firm reported "slightly positive" inflows in H1, although these were almost offset by outflows in the retail channel. The instituti...