Building momentum
At Jupiter, our purpose is clear: to create a better future for our clients through active investment excellence.
We have made significant progress this year towards all of our key strategic objectives, building on the momentum of prior years to increase scale, decrease undue complexity, broaden our appeal to clients and to deepen relationships with all of our stakeholders. We have seen an improvement in a number of key leading indicators, which we believe should lead to long-term value creation.
We remain resolute in advancing our ambition and are confident that our strategic clarity and active investment approach will continue to deliver positive outcomes over the long term.
"In 2025, we made a significant step forward on Jupiter’s key strategic objective of increasing scale, with the announcement of the acquisition of CCLA.”
David Cruickshank
Chair
"We achieved an extraordinary amount in 2025 and it is encouraging that the value of our company has increased markedly over the last year as a result of our hard work and focus.”
Matthew Beesley
Chief Executive Officer
"Improved performance, positive net flows and disciplined cost management increase our confidence in returning to sustainable long-term growth."
Wayne Mepham
Chief Financial & Operating Officer
Key achievements
We saw positive momentum through 2025, with a number of leading indicators now moving in the right direction.
Financial KPIs
Net management fees
£310.7m
2024: £332.9m
Cost: income ratio
82%
2024: 78%
Underlying earnings per share
19.4p
2024: 13.4p
Non-Financial KPIs
Assets under management
£54.0bn
2024: £45.3b
Employee engagement
88%
2024: 79%
Investment performance
68%
2024: 61%
Net flows
£1.3bn
2024: £(10.3)bn
Outcome KPI
Total shareholder return
+92%
2024: 1%
Our strategy
Increase scale
…in select geographies and channels
Progress in 2025
£16.9bn
Strong gross flows
£1.3bn
Positive net flows
Strengthened
European and Global equity investment expertise
Positive
net flows in calendar year for first time since 2017
Scale through acquisition
of Origin Asset Management and CCLA
New expertise
gained in multi-regional equity strategies
Decrease undue complexity
…with costs managed carefully through a relentless pursuit of efficiency
Progress in 2025
£256m
Total operating costs (excl. impact of performance fees)
42 mins
Estimated time saved per user per day through AI tools
Ongoing cost discipline
non-compensation and headcount both lower than prior year
Simplifying
middle office operating model, resulting in supplier consolidation and increased outsourcing
Continued investment
in automation and AI-driven improvements
Broaden appeal to clients
…with a curated product offering, while exploring new methods of delivery
Progress in 2025
£73m
Total capital deployed in seed funding
£33m
New investment in seed funding in 2025
New client channel
of non-profit clients through CCLA acquisition
New methods of delivery
with launch of two Active ETFs and new Cayman platform
Broader range
of investment expertise, with key new hires in Global equities and European equities
Deepen relationships with all stakeholders
…with our purpose embedded in all we do
Progress in 2025
92%
Total shareholder return
88%
Employee engagement score
Value for shareholders
generated materially positive total shareholder return, with special dividend and buyback announced
Improving investment performance
68% of AUM outperforming over three years, 84% over one year and 75% over five years
Highly engaged employees
with engagement score 9 percentage points higher than prior year and above the benchmark
Our business model
Who we are
Jupiter is a specialist, high-conviction, active asset manager. We create a better future for our clients with our active investment excellence.
What we do
How we do it
We are fundamentally a people business. We seek to build a diverse employee base and an inclusive culture where everyone can thrive and achieve their full potential.
The value we create
Our clients
Investment performance after all fees
We help our clients to meet their long-term investment goals, by delivering investment outperformance after fees.
Our employees
Individual engagement
We have a culture that attracts and develops talent. We support and challenge our people to continuously develop.
Our shareholders
Total returns
We balance investment for growth of the business with making returns to shareholders.
Our communities
Stewardship
We actively engage with the companies in which we invest and are focused on the sustainability of both investee companies and our own business.
