Jupiter assets hit record £75.9bn as inflows continue

(Sharecast News) - Jupiter Fund Management reported record assets under management (AUM) on Thursday as client inflows continued into the third quarter, supported by strong investment performance and market returns.

The asset manager said AUM increased 3% over the three months to 30 September to £75.9bn, up from £73.7bn at the end of June, with net inflows of £700m taking the year-to-date total to £1.4bn.

Net inflows into its retail, wholesale and investment trust business reached £1bn, marking a fifth consecutive positive quarter and bringing year-to-date inflows in the channel to £2.5bn.

Institutional clients contributed a further £200m of net inflows, driven by demand for European equities from Latin American clients and systematic equities from a European client.

However, these gains were partly offset by £500m of outflows from CCLA, following a period of weaker investment performance.

Jupiter said it was seeing early signs of improvement at CCLA following changes to its investment processes, with several funds outperforming relevant comparators over shorter periods.

Systematic equities remained a key driver of demand, attracting £1.7bn of net inflows during the quarter, while retail clients also showed greater interest in its Gold & Silver, Monthly Income Bond and UK Dynamic Equity funds.

By region, continental Europe generated £1bn of net inflows, while Latin America contributed £300m, helping increase AUM in that region by 10%.

Jupiter said that "the momentum established in the first half of the year continu[ed] into the third quarter", with that momentum continuing into the fourth quarter.

Jupiter shares were up 2.1% at 177.2p by 0933 BST.

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