Jupiter sees Q3 inflows despite 10% AUM slump

Jupiter has reported net inflows of £295m in the third quarter of 2011, despite a 10% drop in assets under management over the period.

The company said its AUM fell from £24.8bn to £22.3bn in the three months from 30 June, a period in which the FTSE All World Index dropped by 16% and the FTSE 100 fell by 14%. It nonetheless saw net inflows across the business as a whole, surpassing analyst expectations, driven by £280m of net flows from segregated mandates. Net outflows of £36m within the mutual funds segment were driven by a "difficult flow environment" in continental Europe, though Jupiter said it saw continued net inflows within its UK distribution channels. The company also continued to pay down its debt, redu...