Jupiter funds enjoy fresh investment
JUPITER, the fund management firm run by Edward Bonham Carter (pictured), brother of actress Helena, has seen £333m of net inflows over the first three months of this year despite volatile market conditions.
The strong inflows, helped by demand from international investors, boosted assets under management (AUM) to £24.5bn.
Mutual funds contributed fresh investments worth £397m, driven by the asset manager’s fund of fund range.
It suffered outflows of £71m, caused by a single client who decided to redeem part of their portfolio.
Jupiter had attracted £772m of new money in the last quarter of 2010 and £509m in the corresponding quarter a year ago.
Bonham Carter’s firm said it expected its business to continue “in line with management expectations”. Chief executive Bonham Carter added:?“Against a backdrop of volatile markets and falling UK consumer disposable income, Jupiter has had a steady start to 2011.”
Numis analyst James Hamilton said: “We believe another positive quarter for mutual fund flows, despite a slowdown across the industry, underlines the quality and resilience
of the business.”