Pre-tax profit at the firm was up 66% to £70.3m, compared to £42.4m in 2010 and the final dividend per share was increased to 5.3p from 4.7p a year earlier.
But AUM fell from £24.1bn at the end of 2010 to £22.8bn at the end of last year, with inflows of only £746m in the period compared to £2.3bn in 2010.
Edward Bonham Carter, chief executive of the firm, said: "2011 was a positive year for Jupiter, despite significant headwinds presented by the eurozone crisis and increased pressure on household finances.
"Revenues and profits improved over the period due to the benefits of the past two years’ net inflows, continued operational efficiencies and reduced financing costs."
In terms of fund performance, Jupiter said over the three years to 31 December 26 out of its 41 mutual funds (63%) outperformed their benchmarks, with 11 in the first quartile and 15 in the second quartile. Over the year to 31 December 27 out of its 51 mutual funds (53%) outperformed their benchmarks with 10 in the first quartile and 17 in the second.
Bonham Carter added that he expects fund flows to remain subdued in the near term as the "significant public and private debt issues faced by Western economies will take some years to unwind".
