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Jupiter has reported its best quarter of inflows in more than a year as the UK-listed fund benefited from buoyant global stock markets and reaped rewards from its international expansion.
The London-headquartered asset manager posted inflows of £1.3bn during the first three months of the year, reversing the company’s fourth-quarter blip when investors pulled money from its funds.
Total assets under management jumped by 7.4 per cent to £43.5bn on the back of inflows and strong investment performance.
Maarten Slendebroek, chief executive of Jupiter, said:
The continued strategy to diversify our business by product, client type and geography and delivery of strong investment performance after fees across a broad range of strategies has resulted in good inflows both internationally and within the UK.
The company had positive inflows into its mutual fund business, which typically charges higher fees, particularly from clients in Asia and continental Europe. Institutional clients, however, pulled £93m.
Jupiter was one of the few UK listed asset managers to post inflows in 2016. The fund house had net inflows of £859bn during the year, despite suffering £373m of outflows during the fourth quarter of 2016.