Jupiter AUM climbs £1.6bn in Q3

Jupiter Fund Management reported a £1.6bn increase in assets under management for the third quarter, supported by flows into more cautious funds such as Merlin Income, Strategic Bond and Global Convertibles.

Total assets under management increased to £25bn in the three months to the end of September, up from £23.3bn at the end of June. Net inflows for the period were £579m while market movements added just over £1bn. Jupiter shares responded positively to the interim management statement, rising 2.79% to £2.71 per share.  The statement also revealed, however, that flows were held back by the loss of a UK equity segregated mandate and the remainder of a large private client portfolio, which had been reduced initially in the first quarter. Edward Bonham Carter, chief executive, said: ...