Wizard results from Jupiter – MoneyWeek

Thefirmalsoreportedencouragingnetinflowsof£103mforprivateclients,mainlyresultingfromtwolargecharitywins。

However,thesepositiveinflowswereoffsetbythepreviouslyannouncedlossofa£560mlowermarginsegregatedmandate,resultinginoverallnetoutflowsof£189mforthequarterandtotalnetoutflowsforthefirsthalfof£302m。

Netrevenuefortheperiodwas£117。

7m,an8。

0%declineonthesameperiodin2011of£128。

3m,reflectinga4。

0%decreaseinnetmanagementfees。

Assetsundermanagement(AUM)droppedfrom£24。

8bnto£23。

4bn,astheperiodsawnetoutflowsof£0。

3bncomparedtoinflowsof£0。

7bnthesameperiodlastyear。

Thenetmanagementfeemargindippedonebasispoint(bp)to93bps,or93/100ofapercentagepoint。

Netrevenuedroppedfrom£128。

3mto£117。

7m,whilepre-taxprofitdeclinedfrom£37。

3mto£31。

2myear-on-year。

Morepositively,adebtof£36mattheendofJune2011turnedtocashof£1。

0mattheendoftheperiodunderreview,andtheinterimdividendwasretainedat2。

5ppershare。

EdwardBonhamCarter,ChiefExecutive,said:Againstachallengingmarketbackdrop,itwasencouragingthatwesawstronginvestmentperformance,positivenetmutualfundflowsandgrowthinassetsundermanagementoverthelastsixmonthsAgainstthisbackdrop,Jupitersmutualfundnetinflowsof£265mareagoodresult,withpositivecontributionsfrombothourUKandinternationalchannels。

Ourfinancialpositionremainsrobustwithafurtherrepaymentof£33mfromourbankfacilityandoperatingmarginsremainingabove50%。

Althoughtheeconomicoutlookremainsuncertain,webelievewearewellplacedtocapitaliseonlong-termstructuraldriversandremainconfidentofdeliveringvalueacrossthecycle。

Therecentconcertedactionbycentralbankshighlightsthecontinuedfragilityoftheworldeconomy。

ItiscleartheEurozonecrisishasnotbeensolvedandtheoutlookforeconomicgrowthindevelopedmarketsremainspoor。

Whilesuchanenvironmentmakesamaterialimprovementinindustryflowsunlikely,theout-performanceafterfeesbythemajorityofourfundmanagersisenablingustocontinuebuildingassetsinmanyofourstrategies。

ThecompanyalsoconfirmedreportsthatitistoseektheFinancialServiceAuthoritysapprovalonthelaunchofanewfundaspartofitsMerlinrangeinthesecondhalfof2012,extendingitsMerlinfundoffundsfranchisetomeetdemandfromclientsformoredefensiveinvestments,itsaid。

Thesharepricerose2。

3%to222pby09:08。

NR

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