Assets break £50bn at Jupiter as net flows soar

Assets at Jupiter soared past the £50bn mark in 2017 the firm’s latest trading update reveals.

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Net inflows at the asset management firm hit £5.5bn in the year to 31 December 2017, smashing the £1bn inflows recorded the year previously and pushing total AUM to £50.2bn.

The rise in AUM marked an increase of almost a quarter (24%) on 2016 when AUM ended the year at £40.5bn.

However, net inflows in the fourth quarter of £570m were significantly down on flows reported in the first three quarters of the year which were all north of £1bn, with inflows in Q2 of £2.3bn.

Chief executive Maarten Slendebroek (pictured) said it had been a year of “consistent progress” for Jupiter.

"In 2018 we aim to build on the momentum we have seen in 2017 with further business diversification alongside investment..."

“Continued strong investment performance has enabled us to deliver positive returns after fees for clients,” he said.

“The successful continuation of our strategy of diversification produced total net inflows for the year of £5.5bn, including £5.1bn of net flows into our mutual funds across a range of investment strategies.

“These positive flows, which are underpinned by our ability to deliver investment outperformance, have helped drive a 24% increase in AUM over the year to £50.2bn at 31 December 2017.”

Inflows into the absolute return, fixed income and multi-asset strategies were offset by outflows in the fund-of-funds strategy, but the segregated mandate saw “meaningful inflows” during Q4, the update said.

It added that continental Europe was the biggest root of inflows for Q4, but that the group has also expanded with client flows coming from Thailand and Latin America in the quarter.

The closure of the Dividend & Growth Trust in November also sparked outflows, with only a “proportion” of clients transferring to the UK Growth Trust.

The update added: “The strong flows for 2017, underpinned by the delivery of strong investment outperformance after all fees to investors, affirm the confidence we have in our positioning as a high conviction active asset manager.”

It said: “In 2018 we aim to build on the momentum we have seen in 2017 with further business diversification alongside investment in maintaining our operating model, supported by a strong and sustainable balance sheet.”

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