Heavy inflows and weak sterling carry Jupiter Fund Management

Jupiter Fund Management issued a trading update on Thursday for the three months to 30 September, with overall net inflows during the quarter of £789m.

The FTSE 250 firm said that, combined with weak sterling and positive investment returns, resulted in total assets under management at period end of £40.4bn.

Of those inflows, £767m were net mutual fund inflows and £31m were net segregated mandate inflows.

Jupiter’s mutual funds stood at £35.2bn at 30 September, up from £32.3bn at 30 June, while segregated mandates stood at £4.1bn, compared with £3.8bn.

Investment trusts improved marginally to £1.1bn from £1bn.

“We are pleased to report that our mutual fund franchise delivered a strong quarter with net inflows of £0.8 billion, including positive flows from our segregated mandate channel,” said chief executive Maarten Slendebroek.

“This has been achieved against a backdrop of market uncertainty following the UK referendum.

“Alongside these flows, we continue to see strong investment performance across our product range,” Slendebroek added.