Jupiter Asset Management has recorded its first annual net inflows since 2017, marking a significant turnaround for the UK fund manager. The London-listed firm attracted £1.3 billion in net new money last year, reversing the £10 billion in withdrawals from the previous year. Shares jumped nearly 10 percent on the news.

CEO Matthew Beesley attributed the improvement to better investment performance during a year when stock markets hit record highs. Net revenue climbed to £431 million, up nearly a fifth, while statutory profit before tax rose 49 percent to £132 million. The results exceeded analyst expectations, driven by exceptional performance fee contributions.

Under Beesley's leadership, Jupiter has cut costs, merged smaller funds, and made strategic hires including poaching Alex Savvides from JO Hambro. The firm also acquired CCLA, adding £15 billion in assets under management, including funds for the Church of England. Total assets now stand at £54 billion. Jupiter's recovery comes as UK midsized asset managers face pressure from high costs, regulatory challenges, and competition from cheaper index-tracking funds.