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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.
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H1 2025 earnings summary25 Jul, 2025

Executive summary

  • Strong start to 2025 with positive business momentum, improved client sentiment, and benefits from strategic actions.

  • Acquisition of CCLA announced for £100m, adding scale, new client channels, and strengthening market position.

  • Net outflows reduced to £0.2bn in H1 2025, with AUM rising 4% to £47.1bn after a low of £43bn.

  • Underlying profit before tax was £30.4m; EPS at 4.2p per share; ordinary interim dividend of 2.1p declared.

  • Focus on cost discipline, efficiency, and achieving a 70% cost:income ratio.

Financial highlights

  • Net revenue for H1 2025 was £153.9m, down from £173.7m in H1 2024; total net revenue excluding performance fees nearly £149m.

  • Underlying profit before tax was £30.4m (H1 2024: £47.9m); performance fees for H1 2025 were £5.3m.

  • Operating costs (excluding performance fees) down nearly £13m from H2 2024, a 9% reduction; total operating costs at £125.4m.

  • Net flows improved to £(0.2)bn from £(3.4)bn in H1 2024; AUM at £47.1bn as of June 2025.

  • Interim dividend of 2.1p per share; potential for additional distribution from performance fees.

Outlook and guidance

  • Expectation of continued positive momentum in both institutional and retail channels for the remainder of the year.

  • Additional £15m of cost savings targeted, to be fully implemented by end 2026; ongoing investment in operational platform.

  • Average fee margin forecasted to remain at 66bps for the full year; compensation ratio at 49% for 2025.

  • Additional capital return planned: 50% of performance fee revenues crystallised in 2025 to be distributed.

  • CCLA acquisition expected to complete by year-end, adding over £15bn AUM and reinforcing UK market scale.

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Frequently asked questions

Jupiter Fund Management Plc is a UK-based financial service provider specializing in the management of medium and long-term investments, primarily focusing on equity investments for retail, institutional, and private client investors. The company offers a broad range of investment products, including UK and offshore mutual funds, segregated mandates, and investment trusts. The company is headquartered in London, England, and its shares are listed on the London Stock Exchange.

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