Stronger markets and customer inflows drive Jupiter funds higher
ASSET manager Jupiter Fund Management boosted the amount of money it manages for clients again last quarter thanks to strong market gains and client inflows.
The FTSE 250 listed business, led by chief executive Maarten Slendebroek, reported a solid rise in assets from £31.9bn last quarter to £34.8bn for the three months ending March.
Around £872m of net inflows – money invested by Jupiter’s clients in the group’s array of funds minus the amount of cash pulled out of funds by customers – and an additional £2bn of cash generated by strong returns on the group’s fund investments, bulked out the total.
The inflows were higher than the same period last year, when customers added £547m net.
“Our core mutual fund franchise again delivered healthy organic growth this quarter, resulting from the continued delivery of our strategy to diversify by product, client type and geography,” Slendebroek said in a statement.
The group’s strategic and dynamic bond funds and its European equity funds all proved a hit with investors, and were among the top sellers.
Shares in the group rose 1.1 per cent on the back of the results.