Pidcock, Europe help energise Jupiter’s Q1 inflows

Added 13th April 2016

Unfavourable market conditions failed to offset flows into Jupiter Funds, the firm said on Wednesday.

Pidcock, Europe help energise Jupiter’s Q1 inflows

In a trading update for the three months to end March 2016, the asset manager reported £723m in overall net inflows.

The inflows, of which, £443m went into mutual funds and £274m into segregated mandates helped boost total assets under management to £36.2bn from £35.6bn at the end of 2015.

Mutual fund inflows were driven largely by interest in the firm’s European equity and global bond strategies as well as from the launch of its new Asian equity product for Jason Pidcock.

However, the increase in AUM was somewhat offset by adverse market movements, of £195m in its mutual funds business and £26m in its segregated mandates.

“Continuing healthy levels of client flows affirm the confidence we have in our strategy to broaden our network of distribution relationships in those markets and products which offer the most potential for long-term growth,” the firm said.

“We are confident that, as we extend our relationships with key distributors on a global basis and deliver outperformance after fees, we can continue to deliver profitable growth at attractive margins.”

In a note out following the results, Numis Securities analyst, David McCAnn said that the AUM figure was slightly ahead of expectation and was an “excellent result” in a quarter where Numis expects to see many companies reporting net outflows.

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Geoff Candy

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Geoff Candy joined Portfolio Adviser as News Editor in May 2014. He has been a financial journalist and broadcaster since 2005 and, in that time has worked in both South Africa and the Netherlands, covering everything from high street retailers and construction companies to mining and insurance.



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