The Jupiter Fund Management Board has declared an unchanged full-year ordinary dividend for the year of 9.2p per share. This results in a total ordinary dividend for the year of 17.1p, the same as 2018, representing an ordinary dividend pay-out ratio of 59% of underlying earnings. Following the announcement of the proposed acquisition of Merian Global Investors, no special dividend has been declared for the year ended 2019 as Jupiter balances investment for long-term growth with distribution to Jupiter shareholders. The Jupiter Board's priority continues to be to maintain its capital strength, including a robust surplus over regulatory capital requirements and it remains committed to returning surplus regulatory capital in excess of needs to shareholders, aligned to the Group's capital allocation framework.
The full-year dividend payment will be paid on 9 April 2020 to shareholders on the register on 13 March 2020. The Board does not seek approval for dividend payments at the AGM.
Other financial highlights include:
Strong investment performance, with 72% of mutual fund AUM above median over three years. 14% of segregated mandates and investment trusts were above their benchmarks over three years.
Increase of £0.1bn in AUM, after net outflows of £4.5bn
Net management fees decreased by 6% to £370.0m
Statutory profit before tax decreased by 16% to £151.0m
Basic earnings per share decreased to 27.5p
Underlying profit before tax decreased by 11% to £162.7m
Underlying earnings per share decreased by 11% to 28.8p