Jupiter Fund Management raises total dividend by 13 per cent

Profit before tax rose five per cent in the year to December 31st at Jupiter Fund Management.

Pre-tax profit for the year was £73.6m compared to £70.3m in the previous twelve months, driven by a reduction in finance expense and the recognition of exceptional income in 2012, partially offset by reduced operating earnings.

Assets under management rose 15.4% to £26.3bn from £22.8bn in the previous year.

Net inflows rose to £1bn from £0.7bn while earnings before interest, tax, depreciation and amortisation (EBITDA) were valued at £124.2m. This compared to £134.9m in the previous year.

Underlying earnings per share rose to 8.8p from 7.8p a year earlier.

Edward Bonham Carter, Chief Executive Officer of Jupiter Fund Management, commented: "Our strong investment performance, brand and distribution capabilities have helped Jupiter steer a steady course through another challenging year for financial markets.

"This, combined with our increasingly robust balance sheet and confidence in our growth prospects, has led the board to recommend increasing our total dividend by 13% to 8.8p."

Jupiter Fund Management's share price was up 2.31% to 337.10p at 11:20 on Thursday.

MF