Jupiter sees profits surge despite challenges faced by industry

Progress inside its institutional enterprise helped fund home Jupiter put up sharply larger earnings, regardless of writing down the worth of its earlier acquisitions by greater than £40mn.

The listed asset administration agency revealed its outcomes for the 12 months to the tip of December 2023, displaying an underlying revenue of £105.2mn, a 36 per cent enhance on the earlier 12 months.

Chief govt Matt Beesley mentioned the rise was because of each higher value administration and a rise in belongings underneath administration (AUM) of 4 per cent to £52.2bn. 

Of that asset underneath administration development, there have been internet outflows from Jupiter’s funds of £2.2bn, a discount on the greater than £3bn of outflows from the earlier 12 months, however beneficial market actions meant whole belongings rose.

The outflows had been focused on the bond, UK and European fairness desks.

Efficiency of among the bond funds at Jupiter suffered on account of the managers being lengthy length – extra pessimistic on the financial outlook – throughout the course of 2023 than proved to be the case, as brief length bonds largely outperformed. 


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