Jupiter to launch share class for wealth managers

CEO Edward Bonham Carter said the fund group will add the share class as part of plans to develop its distribution capabilities. Jupiter will "launch I-classes across our unit trust range later this year to assist our penetration of wealth management channels", Bonham Carter said. In its interim results, Jupiter reported pre-tax profit of £37.3m for the six months to 30 June, up from £14.6m a year earlier. Underlying profit before tax was up 17% at £62.1m, while net debt fell to £36m, down from £62.7m as at 31 December 2010. Assets under management rose from £24.1bn at the end o...