Jupiter assets rise to £22bn thanks to mutual funds

Asset manager Jupiter has posted a 12 per cent rise in assets under management to £22.2bn with solid net inflows into its mutual funds.

The company – which listed on the London Stock Exchange in the summer – reported net inflows of £734 m in its third quarter to the end of September.

Its Merlin fund of funds and Sicav products have fuelled the rise.

The segregated mandate business - in which Jupiter manages money for institutional investors - had net inflows of £210 million, benefiting from the funding of a new mandate and additional assets from existing clients.

But the hedge funds division posted net outflows of £13m.

Jupiter launched a Strategic Total Return fund and a Global Convertibles fund at the start of the month to be headed by Miles Geldard and Lee Manzi. It said that initial flows into these funds had been “encouraging”.