29th Feb 2016 07:37
LONDON (Alliance News) - Jupiter Fund Management PLC on Monday lifted its full-year dividend after reporting higher pretax profit and assets under management in 2015.
In a statement, the FTSE 250 fund manager reported a pretax profit of GBP164.6 million in 2015, up from GBP160.0 million the prior year.
Jupiter said the increase in pretax profit was driven by higher operating earnings and lower amortisation of intangible assets, which more than offset a decrease in other gains. In particular, the prior year's results saw a GBP28.5 million gain on the sale of private client contracts.
The company lifted its dividend for the year to 25.5 pence, an increase of 29% when excluding the prior return of proceeds from the sale of the private client contracts. Overall, the total dividend rose of 3.0%.
Assets under management rose to GBP35.7 billion from GBP31.9 billion over the course of 2015, as net inflows rose to GBP1.94 billion from GBP860.0 million.
"In 2016, we will continue along the path of deliberate diversification via primarily organic growth. Although the markets did not get off to a good start in the New Year with a bout of volatility, our robust balance sheet and healthy operating margins mean we are well placed to continue investing in attractive growth opportunities, even in more volatile market conditions," Chairman Liz Airey and Chief Executive Officer Maarten Slendebroek said in a joint statement.
"Based on strong investment performance, new product launches and planned office openings, we are confident that we can deliver another year of progress, albeit against a backdrop of headwinds from the market and continued uncertainty on the regulatory front," Airey and Slendebroek added.
By Samuel Agini; [email protected]; @samuelagini
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