Jupiter sees mutual fund inflows of £1.4 billion in 2014

collective investmentJupiter Fund Management recorded total mutual fund inflows of £1.4 billion (€1.8 billion) in 2014, bringing the firm's assets under management (AUM) to nearly £32 billion at the end of the year.

The firm saw net mutual fund inflows of £309 million in the fourth quarter (Q4) of 2014 –nearly £80 million higher than in Q3, but £149 million lower compared to Q4 a year earlier.

Total AUM is now £31.9 billion according to Jupiter's latest trading update for the three months to 31 December, compared to £31.7 billion at the same time last year.

Together with improved market levels, the firm's mutual fund assets increased to £27.5 billion during Q4. Top selling mutual funds included the Dynamic Bond, Strategic Bond, European Growth and UK Growth funds.

Net outflows for the quarter were £626 million, due to the loss of a single large segregated mandate and the closure of the £234 million Second Split investment trust.

Jupiter also saw £65 million taken out of private client accounts during the quarter, following a sale to Rathbone Investment Management in September.

Jupiter says strategic decisions such as the sale of all private client operations, the closure of less economical funds, and continued pricing discipline within segregated mandates benefit Jupiter's future as a focused mutual fund provider.

Maarten Slendebroek, chief executive, says the mutual fund franchise again delivered healthy net inflows in the quarter, resulting in cumulative net inflows of £1.4 billion across the year, and an underlying organic growth rate of 6%.

He adds: "2014 saw encouraging progress with the continuing diversification of our product and distribution capabilities and, together with the well-executed sale of our private client operations, Jupiter is well placed to deliver profitable growth at attractive margins."

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