Edward Bonham Carter, chief executive of UK-listed Jupiter Fund Management, has reiterated calls on politicians and regulators not to confuse asset managers with bankers when considering tougher oversight of the financial markets, as his own company has reported increased profits for the first half of the year.

Bonham Carter, whose company floated on the London Stock Exchange in June, said: "I would like to think that regulators and politicians recognise that asset managers had a good credit crunch and that mutual funds came through the second bear market in 10 years pretty well. Investors aren't taking on a credit risk with their fund managers, though they are taking on a performance risk."