Jupiter post outflow in Q1 as AUM rises

Jupiter saw its funds under management climb 6% in the first quarter of the year, according to an interim management statement released today.

The business as a whole saw a net outflow of £113m, largely from segregated mandates, although the mutual funds saw a net inflow of £55m in three months to 31 March. The group is expecting to post the loss of a £570m segregated mandate in the second quarter. Edward Bonham Carter, chief executive, (pictured) said: "The market bounce in early 2012 led to an improvement in the retail net flow environment during the quarter, with limited net inflows into equity funds in the UK and Europe for the first time in nearly six months. "These trends helped our mutual funds return to net inflow...