Money manager Jupiter's AUM rises to 31.9 billion pounds
By Nishant Kumar
LONDON (Reuters) - Jupiter Fund Management recorded a small increase in its assets under management (AUM) in the three months to December 31 as increased interest in its mutual funds helped offset a firm-wide net outflow during the quarter.
Its AUM rose to 31.9 billion pounds from 31.7 billion three months earlier, with about 86 percent in mutual fund products, up from 78 percent during the same period a year earlier.
Company-wide, there were net outflows for the quarter of 626 million pounds due to the loss of a previously notified private mandate and the closure of an investment trust.
However, a near 1.2-billion-pound boost from net inflows into its mutual funds and gains from market and forex movements helped the London-listed money manager post an increase in AUM.
"Our core mutual fund franchise again delivered healthy net inflows this quarter," Chief Executive Maarten Slendebroek said.
"Together with the well-executed sale of our private client operations, Jupiter is well placed to deliver profitable growth at attractive margins," he said in a statement.
Net inflows into Jupiter's mutual funds stood at 1.4 billion pounds for 2014, a near 22 percent jump from a year earlier.
Top selling products during the quarter included dynamic bond, strategic bond, European growth and UK growth funds, the money manager said. ($1 = 0.6601 British Pounds)
(Reporting by Nishant Kumar, editing by Anjuli Davies and Jason Neely)
