Jupiter on target for £5bn inflow

InflowsJupiter Fund Management, the London-listed asset manager, had £1.3 billion (€1.4 billion) of inflows in the third quarter, beating its 2016 figure.

The company saw £1.05 billion of net inflows last year and broker Cantor Fitzgerald predicts that Jupiter will have seen £5 billion in total net inflows by the year end.

The latest flow figures, reported in Jupiter’s trading update today for the period ending September 30, builds on £3.5 billion of inflows in first half of the year.

The vast majority of the latest inflows were into mutual funds (£1.2 billion) with the balance in segregated mandates.

Jupiter said it had seen “significant inflows” mainly within its fixed income strategy as well as “meaningful inflows” into its European growth, UK value, absolute return and global emerging markets strategies.

Inflows were partially offset by outflows from the company’s fund-of-funds strategy.

Cantor noted that Jupiter had been successful in growing assets under management in continental Europe.

Maarten Slendebroek, chief executive of Jupiter, said: “The business momentum from our pursuit of business diversification allied with positive investment performance after fees has driven a 3% increase in AUM [assets under management] over the quarter and a 19% increase since the beginning of the year.”

AUM closed at £48.4 billion.

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