Jupiter has announced a pre-tax profit rise of nearly 5 per cent and an increase in total dividend by 13 per cent from 8.8p from 7.8p in its annual results, following a year of outperformance against a background of volatile markets.
2012 saw the asset manager record a profit before tax of £73.6bn, compared to £70.3bn in 2011. Jupiter’s net cash inflows also rose to £1bn at the end of 2012, from £0.7m the year previous, despite a large £600m mandate loss.
Assets under management for 2012 increased to a £26.3bn, from £22.8bn in 2011, due to net inflows and market appreciation across the year.
Jupiter chief executive Edward Bonham Carter says:“While equity markets posted positive gains for the year, this performance masked significant underlying volatility, particularly during the first half of the year, as investors grappled with continued turmoil in the Eurozone.
“Our focus on investing in quality companies which we believe are able to deliver strong results throughout the market cycle typically results in stronger performance in challenging market conditions.”