Business
Interim Report and Accounts 2022
Interim Report and Accounts 2022.
About this update from Jupiter Fund Management Plc
[{"type":"text","content":"\n \n Jupiter Fund Management plc\n |\n \n Interim Report and Accounts 2022\n \n \n \n \n \n Results for the six months ended 30 June 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 29 July 2022\n \n \n \n \n \n n\n Assets under management (AUM) ended the period at £48.8bn\n \n \n n\n Gross inflows of £6.9bn, net outflows of £3.6bn\n \n \n n\n Underlying profit before tax (excluding net performance fees) of £53.9m (2021 H1: £79.8m). Underlying profit before tax of £29.7m (2021 H1: £78.2m)\n \n \n n\n Statutory profits before tax of £18.8m (2021 H1: £57.0m)\n \n \n n\n Underlying earnings per share before performance fees of 7.8p (2021 H1: 11.7p). Underlying earnings per share of 4.2p (2021 H1: 11.5p)\n \n \n n\n Statutory earnings per share of 2.6p (2021 H1: 8.7p)\n \n \n n\n Interim dividend unchanged at 7.9p per share\n \n \n \n \n \n \n \n \n \n \n \n \n \n Six months ended\n \n \n 30 June 2022\n \n \n \n \n Six months ended\n \n \n 30 June 2021\n \n \n \n \n Year ended\n \n \n 31 December 2021\n \n \n \n \n \n \n Net management fees1 (£m)\n \n \n \n \n 200.5\n \n \n \n \n 224.1\n \n \n \n \n 453.7\n \n \n \n \n \n \n Underlying profit before tax excluding net performance fees1 (£m)\n \n \n \n \n 53.9\n \n \n \n \n 79.8\n \n \n \n \n 164.6\n \n \n \n \n \n \n Underlying profit before tax1 (£m)\n \n \n \n \n 29.7\n \n \n \n \n 78.2\n \n \n \n \n 216.7\n \n \n \n \n \n \n Statutory profit before tax (£m)\n \n \n \n \n 18.8\n \n \n \n \n 57.0\n \n \n \n \n 183.7\n \n \n \n \n \n \n Underlying earnings per share excluding net performance fees1 (£m)\n \n \n \n \n 7.8\n \n \n \n \n 11.7\n \n \n \n \n 24.1\n \n \n \n \n \n \n Basic earnings per share (p)\n \n \n \n \n 2.6\n \n \n \n \n 8.7\n \n \n \n \n 27.6\n \n \n \n \n \n \n Underlying earnings per share1 (p)\n \n \n \n \n 4.2\n \n \n \n \n 11.5\n \n \n \n \n 31.7\n \n \n \n \n \n \n Operating margin (before exceptional items and net performance fees)1\n \n \n \n \n 28%\n \n \n \n \n 37%\n \n \n \n \n 38%\n \n \n \n \n \n \n \n 1\n \n The Group's use of alternative performance measures is explained on pages 25 to 27.\n \n \n Andrew Formica, Chief Executive, commented:\n \n \n \n \"The first half of 2022 has been particularly challenging fo...