Strong equity markets in the first quarter of this year helped Jupiter Fund Management grow its funds under management by 6 per cent to £24.2bn. The fund manager reported inflows of £55m into mutual funds, but other outflows meant there was an overall net outflow of £113m.
IC TIP:
Buy
at
239p
Group finances have improved significantly and net debt has been eliminated, so there is now the prospect of progressively raising the dividend. Broker Numis Securities has subsequently revised its EPS estimates for the coming year from 19.6p to 19.7p, with a target price of 313p.
