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Jupiter boosts profits despite £5.2m FSCS levy

Jupiter’s profits soared from £7.2m in 2009 to £42.4m in 2010, despite being hit with a £5.2m FSCS levy.

According to the firm’s preliminary results, published today, assets under management grew to £24.1bn, an increase of £4.6bn on the previous year.

Following the results, shareholders will receive a final ordinary dividend of 4.7p per share. It is the first annual report the fund management firm has produced since it listed on the London Stock Exchange in June, 2010.

Chief executive Edward Bonham Carter (pictured) says: “2010 was another successful year for Jupiter with a strong performance for both clients and shareholders.

“While volatility is set to remain a key feature for the markets in 2011, we are confident that our targeted approach to developing our distribution channels and product set, together with investment outperformance, sees us well positioned to deliver further growth for clients and generate value for our shareholders.”

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