Fund manager Jupiter posts better-than-expected annual profit

Feb 22 (Reuters) - Jupiter Fund Management JUP.L reported better-than-expected full-year profit on Thursday, as a tight lid on costs and firm institutional client demand helped offset the impact of muted retail investor sentiment in the UK.

The company said profit rose to 105.2 million pounds ($133.1 million) in the year ended Dec. 31, from 77.6 million pounds last year. Analysts, on average, expected underlying profit before tax to be 91.5 million pounds, according to a company-compiled consensus.

"The market outlook continues to be uncertain but I am confident that we have a strong underlying business and a strategy that can deliver growth over the medium term," CEO Matthew Beesley said in a statement.

($1 = 0.7905 pounds)

(Reporting by Eva Mathews in Bengaluru; Editing by Eileen Soreng)


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