Jupiter's YTD net flows turn positive after strong third quarter
Fund manager Jupiter Fund Management Plc reported net inflows of £0.3bn during the third quarter, as the positive momentum seen at the end of the first half continued.
This was the second straight quarter of net inflows for Jupiter, meaning that year-to-date flows by the 30 September pushed into positive territory at £0.1bn.
The turnaround was underpinned by a "marked improvement" in retail and wholesale investor sentiment, with net inflows in this channel at £0.8bn in the third quarter alone, the company said.
Alongside positive market movements of £3.0bn, assets under management totalled £50.4bn, up 7% over the three-month period and 11% higher than a year ago.
"The improvement in flows was driven by both an improvement in risk appetite amongst clients in the Retail, wholesale and investment trusts channel and ongoing strong investment performance across our differentiated capabilities, partially offset by net outflows in the Institutional channel," Jupiter said.
Shares were down 0.3% at 150.82p in early deals on Wednesday.
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