Jupiter Fund Management assets hit record 33.1 bln stg in June quarter

LONDON, July 30 Wed Jul 30, 2014 2:34am EDT

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LONDON, July 30 (Reuters) - Jupiter Fund Management said funds under management (FuM) rose to a record 33.1 billion pounds ($56.08 billion) in the June quarter, boosted by inflows into its fixed income products.

The money manager, which started the year with 31.7 billion pounds in assets, took a net 875 million pounds into its mutual funds during the quarter, it said in a statement.

The company reported a pretax profit of 48.4 million pounds and said it had maintained its operating margins above 50 percent.

It also announced an interim dividend of 3.7 pence as part of a progressive dividend policy.

Jupiter said roughly three quarters of the assets in its mutual funds had delivered first and second quartile investment performance,

It also expected "a large segregated mandate to redeem later this year", but said it had a relatively low margin management fee. ($1 = 0.5902 British Pounds) (Reporting by Nishant Kumar; editing by Simon Jessop)

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