Jupiter profits down 18% on Rathbones deal but inflows drive up AUM

clock

Jupiter has reported an 18% fall in its profits in the first half of 2014, with the group incurring £5.3m of costs from selling its private client business.

Profits for the half year to 30 June fell from £59.1m to £48.4m, with the cost of transferring its private client business to Rathbones a major factor.   Profits were also hit by another one-off factor, as last year's figure included a gain of £6.7m made from the sale of its Cofunds stake.   Crucially net revenues increased 6% to £148.5m, supported by inflows into its fixed income range and a number of mandate wins from larger clients.   The group saw its assets under management climb to £3.1bn following solid net inflows of £1.3bn, the majority of which went into its mutual fun...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Fixed Income

Partner insight: Three inflation considerations for fixed income investors

Partner insight: Three inflation considerations for fixed income investors

Look for opportunities in high-yield corporates and US TIPS, says Flavio Carpenzano

Flavio Carpenzano, Investment Specialist at Capital Group
clock 26 April 2022 • 2 min read
Equity strategies had mixed results over the month

Fixed income funds favoured by investors in October

Investors turned their backs on UK large cap equity funds

Jenny Turton
clock 25 November 2021 • 1 min read
Industry Voice: Cows, methane and the climate threat

Industry Voice: Cows, methane and the climate threat

Methane can be a more threatening pollutant than carbon dioxide when it comes to the greenhouse gases behind global warming. Our portfolio managers and analysts discuss a number of pioneering new methods to avoid or reduce emissions from livestock, and...

Gita Bal, Global Head of Research, Fixed Income and Velislava Dimitrova, Portfolio Manager, Fidelity Global Sustainable Climate Solutions Fund, Fidelity International
clock 20 September 2021 • 6 min read