Jupiter went into the black for the first half of 2010 with profits before tax of £14.6m compared to a loss of £6.5m for the same period last year.
The results are the first since Jupiter's IPO in June and also highlight a £1m one-off gain from the part disposal of the group's stake in platform group Cofunds. This means Jupiter's overall share in Cofunds has been reduced to just under 10% but it says the platform is trading well and is a 'good investment'. Assets under management also increased to £19.8bn during the first half of the year from £15.5bn for the same period in 2009. However, net inflows fell from £917m last year to £814m over H1 2010, as continued mutual fund growth was partially offset by the redemption of a single...
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