Funds News

Jupiter gets 496 million pound inflow fillip in volatile quarter

LONDON (Reuters) - British fund firm Jupiter Fund Management took in half a billion pounds in net new money during the December quarter, buoyed by demand for its bond funds and a positive market performance.

Asset managers ended the year in volatile fashion after the European Central Bank eased monetary policy by less than expected and the U.S. Federal Reserve upped rates for the first time in almost a decade amid persistent global growth concerns.

Against that backdrop, Jupiter took in a net 496 million pounds ($714.74 million) to its mutual funds, investment trusts and segregated mandates over the three months to end-December, it said in a statement.

Net mutual fund inflows were 549 million pounds, helped by strong demand for its European Growth and Dynamic Bond strategies and a positive move in the value of its holdings of 1.4 billion pounds, it said.

Total net inflows to its mutual funds over the year as whole were 2.1 billion pounds, helping take the firm’s assets under management to 35.7 billion pounds at year-end.

Maarten Slendebroek, chief executive, said the growth reflected the firm’s decision to diversify its product offering, client type and geographic exposure, as well as a strong investment performance.

“Across the whole of 2015, these combined to deliver organic mutual fund flow growth of eight percent and to increase total AUM by 12 percent to 35.7 billion pounds despite broadly flat markets,” he wrote.

The FTSE 100 ended 2015 down 4.5 percent.

Going forward, Jupiter said it saw potential for further growth in its chosen markets and would look to do so organically.

($1 = 0.6940 pounds)

Reporting by Simon Jessop; Editing by Rachel Armstrong and Carolyn Cohn