Jupiter sees assets rise and plans Sicav fee simplification

Pay increaseMutual funds largely drove UK-based Jupiter Fund Management’s 5% growth in managed assets in the third quarter (Q3), says the company in its latest statements.

AUM climbed to £33.5 billion (€45.2 billion) after net mutual fund inflows of £196 million during Q3.

The top selling funds included European equity strategies and Jupiter’s Dynamic Bond fund.

The firm says that this performance was delivered despite significant volatility and market declines. Maarten Slendebroek, chief executive, says having a diversified product range, client types and geographies were strengths.

Net mutual fund flows for the first nine months of 2015 were £1.6 billion.

In its latest statements, the company also says it will simplify the fee for its Luxembourg Sicav fund by introducing an aggregated operating expense fee.

The company says the change is in line with Luxembourg industry market practice and will provide clients with a fixed basis-point rate that will be standardised across similar funds and share classes within its Sicav range.

Jupiter’s move recalls JP Morgan Asset Management’s action earlier this year when the firm cut the fee on its Luxembourg Sicav by targeting the operations element of the cost.

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