Jupiter beats AUM forecast

Dividends growthJupiter Fund Management, a UK-listed asset manager, saw £688 million of net inflows in the fourth quarter 2012. The manager, which is strongly established in the UK retail market, saw £490 million of mutual fund net inflows and £206 million from segregated mandates. Its private clients business saw an £8 million outflow. Coupled with market movement of £581 million, total assets under management (AUM) went to £26.3 billion, the company said this week in a trading update. Jonathan Goslin, analyst at Edison Investment Research, says AUM flows were stronger than expected during the quarter. “With its large exposure to the UK retail market, Jupiter is one of the managers most exposed to the effects of RDR [Retail Distribution Review] so we would expect AUM flows to be more subdued over the near- term." ©2013 funds europe

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