30th Apr 2019 09:49
LONDON (Alliance News) - Jupiter Fund Management PLC on Tuesday reported a rise in first quarter assets under management.
The FTSE 250-listed fund manager recorded net outflows in the quarter but saw its assets driven higher by a strong positive market movement.
Jupiter closed the first quarter with GBP44.06 billion in assets under management, 3.3% higher than the GBP42.67 billion seen at December 31. Jupiter's assets under management are down 6.0% year-on-year, however.
In the three months to March 31, Jupiter recorded net outflows of GBP482 million. Positive market movement of GBP1.87 billion more than offset the negative flows, however.
Jupiter's Mutual funds under management increased 1.4% in the period to GBP37.47 billion. The fund manager's Segregated Mandates climbed 17% to GBP5.35 billion, and its Investment Trusts increased 6.9% to GBP1.24 billion.
Shares in Jupiter Fund Management were down 0.5% Tuesday at 382.20 pence each.
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