Gross inflows over the period were £3.1bn, compared to net outflows of £0.7bn, with assets under management rising by 3% to £24.8bn.
Net inflows were £676m with mutual funds contributing £657m of this thanks largely to the firm’s Merlin fund-of-funds range alongside continued growth from its international channels.
Following its listing a year ago, chief executive Edward Bonham Carter was able to announce that its net debt had reduced to £36m, from £63m at the end of last year. At the same time its cash holdings dropped to £167m, from £220m at year end, and with various debt repayments made it now has its outstanding bank loan down to £203m.
An interim dividend of 2.5p will also be paid.
In terms of future strategy, Bonham Carter said that after a busy 2010, 2011 is “largely one of consolidation as we focus on building assets in existing funds and developing our distribution capabilities, particularly internationally.”
As well as registering the firm’s Sicav in Belgium, Holland and Portugal Jupiter is also going to launch I-classes across its unit trust range later this year to assist our penetration of wealth management channels.
