Popular equities funds including the UK Special Situations Fund, and cautious funds such as the Merlin Income and Strategic Bond Fund, were the main sources of inflows.
The results are significantly below those from Q3 and Q4 2013, during which net inflows reached £579m and £688m respectively.
As of 31st March the firm had £29.1bn in AUM, an £2.9bn increase from the £26.2bn it held at the end of December.
Private client and investment trust inflows reached £9m, while mutual funds attracted £247m. Outflows from segregated mandates hit £56m, although this was offset by market movements which brought total AUM in this sector to £3.5m, an increase from the £3.2m held at the end of December.
Cash from the purchase of Cofunds by Legal & General will be used to reduce the firm’s gross debt. The deal, worth £16.5m, was announced at the end of March and is likely to complete during Q2.
Edward Bonham Carter, chief executive, said: “Our increasingly diverse distribution presence enabled us to deliver net mutual fund inflows of £247 million despite a hiatus in the UK IFA market following the implementation of RDR at the start of 2013. Combined with strong market growth in the first quarter, this helped Jupiter’s AUM increase to £29.1 billion as of 31 March 2013.”
