Jupiter Asset Management has reported a rise in first-quarter assets under management for 2019.
AUM stands at £44.1bn as of 31 March which is an increase of £1.4bn from the £42.7bn recorded at 31 December last year.
Net outflows for the period were £482m for the first three months of 2019, down 68 per cent on the same period for the previous year when outflows were £1.53bn
The asset manager says net mutual fund outflows were £1bn for the quarter with £500m of that from one client transferring to a segregated mandate.
Jupiter says the remaining £500m of outflows were from its European Opportunities and Fund of Funds strategies, which are principally within the UK.
Money Marketing reported a 7 per cent profit drop for Jupiter in March as the first full year of absorbing the cost of research and not benefiting from box profits hit results.
The asset manager still posted £179m in pre-tax profits for the year however, while net management fees rose from £395.7m to £392.4m.