Jupiter flows top £400m in H1 despite 'quiet' RDR environment

Jupiter has reported net mutual fund flows of £426m for the first half of 2013 despite RDR "dampening" UK business.

Reporting a first half pre-tax profit of £59.1m, up from £31.2m a year previous, the fund group said UK retail fund flows had been "resilient" in the face of RDR pressures. Mutual fund flows stood at £247m in Q1 and £179m in Q2, combining with healthy market movements to push total assets under management up from £26.3bn at the start of the year to £29bn by end-June. First half flows were concentrated on the group's Merlin multi-manager range, fixed income funds and "top performing equity funds", Jupiter said. Announcing a 40% increase in the group's interim dividend, to 3.5p, chie...