Analysts at JP Morgan Cazenove are forecasting a leap in pre-tax profits from £7m (€8m) to £101m over three years at UK fund manager Jupiter Asset Management, which is preparing its initial public offering for June.

JP Morgan Cazenove, which is a bookrunner on the planned £220m Jupiter float, will spell out further details in an offer document due to be published next week. However, the possibility of the float being pulled due to adverse market conditions cannot be ruled out.