The amount of money run by Jupiter Fund Management increased by £1.4 billion over the first quarter, driven by the new year rebound in markets.
The group’s interim management statement for the quarter to March 31 shows asset under management hit £24.2 billion over the three-month period – up from £22.8 billion at the end of 2011.
Almost £1.5 billion of this rise was attributed to market movement, while the group witnessed net outflows of £113m across its mutual funds, segregated mandates and private client businesses.
The amount held in Jupiter’s mutual funds rose to £18.4 billion during the quarter, caused by £1 billion in market movement and net inflows of £55m.
The company saw net outflows of £102m in its segregated mandates but a positive contribution of £257m from market movements. Investment trusts’ AUM increased to £576m after £57m was added by the markets.
Jupiter chief executive Edward Bonham Carter says: “The market bounce in early 2012 led to an improvement in the retail net flow environment during the quarter, with limited net inflows into equity funds in the UK and Europe for the first time in nearly six months.”