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UPDATE 1-Jupiter Fund Management third quarter assets up 3 pct​
October 11, 2017 / 6:50 AM / 8 days ago

UPDATE 1-Jupiter Fund Management third quarter assets up 3 pct​

* Assets under management up 3 pct to 48.4 bln

* Positive net inflows of 1.3 bln pounds

* Fuelled by demand for its fixed income funds (Adds more detail; CEO comment)

By Emma Rumney

LONDON, Oct 11 (Reuters) - British asset manager Jupiter Fund Management said on Wednesday that demand for its fixed income funds had helped assets rise by 3 percent in the third quarter.

Jupiter’s assets under management were 48.4 billion pounds ($63.87 billion) at the end of the period, up 19 percent over the year, although the pace of growth was slower than previous quarters.

The results build on strong performance seen throughout the year by Jupiter and rival asset managers including emerging-markets focused Ashmore and Schroders.

“Total net inflows were 1.3 billion pounds, including 1.2 billion pounds of net inflows into our mutual funds across a number of different investment strategies,” Chief Executive Maarten Slendebroek said.

“We are pleased to report another quarter of healthy flows following on from a strong first half,” he added, helped by the company’s move to broaden its client base and expand into new products and countries.

Net inflows were boosted primarily by demand for Jupiter’s fixed income funds, it said, although it also saw increased demand for its UK, European, absolute return and emerging market funds.

$1 = 0.7579 pounds Reporting by Emma Rumney; editing by Simon Jessop; editing by Simon Jessop

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