Jupiter Fund Management will pays its first interim dividend payment in September based on strong growth in assets under management and inflows.
There was no interim dividend n 2010 “due to the short period since listing” on the London Stock Exchange, according to a statement released by the group.
A dividend of 2.5p for ordinary shareholders will resume from September following net inflows of £676m in the first half of 2011. Over £330m of this amount came in the first quarter of the year.
Cash outflows from financing activities have increased from £59.7m to £100.7m over the year. The majority of hedge fund outflows are attributed to the “liquidation and reconstruction of the Jupiter Merlin Absolute Return Portfolio.”
Assets under management have grown by 25 per cent since the listing to reach £24.8 billion, although only 3 per cent of this growth occurred in the first half of 2011.
“Mutual funds contributed net inflows of £657m, driven by our Merlin fund of funds range and continued growth from our international channels, although this was offset somewhat by greater risk aversion among Continental European investors towards the very end of the period,” reports the group in its half yearly report.
Net income over the course of the year grew by 15 per cent to reach 128.3m but this amount represents a significant step down from the £230.5m recorded for the end of 2010.