Jupiter assets under management boosted by market movements
Jupiter saw assets under management (AUM) soar by £1.4bn in the first three months of the year, the company announced today.
The boost was driven by market movements, which offset net outflows in the quarter of £482m, the London-headquartered firm said.
Read more: Jupiter finance chief Charlotte Jones moves to insurer RSA
Mutual fund outflows were £991m between January and March this year, of which £500m related to a client transfer, while the rest was predominantly from Jupiter’s European Opportunities and Fund of Fund strategies, principally within the UK.
The UK Dynamic Growth Fund was closed during the period, which contributed £3.5m to outflows.
The latest results come a month after former Janus Henderson boss Andrew Formica replaced Maarten Slendebroek as Jupiter’s chief executive.
The company announced in January that Slendebroek would step down two years earlier than planned due to Formica’s availability.
Read more: Ex-Janus Henderson boss to replace Jupiter Fund Management chief executive
Chief financial officer Charlotte Jones is also set to leave the firm in August after being poached by FTSE 100 insurance group RSA.
Jupiter announced that it will report its results for the six months to the end of June on 30 July.