Jupiter profits dip 7% as research costs and box profits bite

tracker fundsJupiter saw profits fall by 7 per cent in 2018, as the first full year of absorbing the cost of research and not benefiting from box profits hit the asset manager.

The firm still posted £179m in pre-tax profits, as net management fees crept up from £395.7m to £392.4m.

This was despite assets under management dropping 15 per cent, from £50.2bn to £42.7bn.

Net ouflows were £4.6bn, with Jupiter highlighting tough market conditions as a driver of its results, but noting its own outperformance remained.

Chief executive Maarten Slendebroek says: “With market volatility continuing during the year, it was encouraging to see that our strategy of diversification underpinned solid business performance for the period. Most pleasing is that we delivered strong fund performance for our clients during the year with 77 per cent of our mutual fund assets under management outperforming the median over three years.

“As reported throughout the year we saw net outflows, primarily in our
fixed income strategy which impacted closing AUM. Gross sales remained strong as we saw client demand for active asset management continue.”


Legal & General IM poaches Columbia Threadneedle EMEA boss

Columbia Threadneedle’s chief executive officer for Europe, the Middle East and Africa Michelle Scrimgeour has resigned to join Legal and General Investment Management as chief executive officer, She will be succeeding Mark Zinkula who will retire in August. LGIM says the specific retirement and appointment dates will be confirmed in due course. Scrimgeour will also […]


How to become a financial adviser: diplomas, degrees and workplaces

Information on how to become a financial adviser is sparse. Money Marketing speaks to advisers about what the requirements really are and how best to meet them. Speaking to financial advisers and planners today, each will have a unique and varied story about how they entered the profession. There are more than a handful of pathways […]


Are DFMs interpreting risk ratings correctly?

Money Marketing takes a look at the role advisers should play to help DFMs build suitable discretionary portfolios With an ever-greater regulatory focus on taking the right risk for the right client, eyes are turning to how discretionary fund managers actually turn an adviser’s fact-find into an investment portfolio. Last year, the FCA looked at […]

Martin Cholwill

Difficult backdrop, but market to grind higher

Senior Fund Manager, Martin Cholwill reflects on current conditions within the macro environment. He expects continued uncertainty in the UK economy and on the political horizon could provide a difficult backdrop, but remains positive that the stock market will grind higher. Read the article here Past performance is not a guide to future performance. The […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com