Jupiter CEO: When I look a client in the eye I can now say 'there is no need to worry about research costs'

Results for year to 31 December 2016

Jupiter Fund Management has said 2017 will "be a year of operational heavy lifting" as it reports a £5bn rise in AUM and net inflows of £1bn for 2016, helped by international diversification during a difficult year for UK asset managers.

In the year to 31 December 2016, Jupiter continued to see organic growth for its assets under management, which now stands at £40.5bn, up 13% on the previous year. Net management fees increased by 10% to £330.2m and profit before tax rose by 4% to £171.4m. However, while flows remained positive despite a "challenging" year, the £1bn figure was almost half of that seen in 2015. Flows were strongest in the first and third quarters, when market conditions benefitted the group's "market neutral and total return strategies, alongside favourable exchange rate movements". The group said i...