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Jupiter Fund Management (JUP) investor relations material
Jupiter Fund Management H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Strong start to 2025 with positive business momentum, improved client sentiment, and tangible benefits from strategic actions and cost savings.
Announced acquisition of CCLA for £100m, expected to add significant scale, new client channels, and reinforce UK market position.
Improvements in investment performance, with 64% of mutual fund AUM outperforming peers over three years.
Financial highlights
Net outflows of £0.2bn in H1 2025, with net positive flows in Q2; AUM rose 4% to £47.1bn as of June 2025.
Net revenue for H1 2025 was £153.9m; underlying profit before tax was £30.4m; EPS at 4.2p.
Operating costs reduced to £125.4m, down nearly £13m from H2 2024.
Performance fees for H1 2025 were £5.3m.
Ordinary interim dividend of 2.1p per share declared.
Outlook and guidance
Positive net flows in July and strong institutional pipeline expected to support H2 2025 momentum.
Average fee margin forecasted at 66bps for 2025; compensation ratio guidance at 49% for 2025.
Non-compensation costs expected to be no more than £105m for 2025.
Further cost savings targeted, with at least £15m to be fully implemented by end 2026.
Targeting a 70% cost-income ratio.
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