Jupiter Fund Management benefited from net inflows of more than £400m into its funds over 2013’s first six months, in spite of the “quiet” post-RDR environment.
The asset management house’s net inflows into funds were £426m between the start of the year and the end of June. This is an improvement on the £265m net outflow recorded halfway through last year but down from the £1.3bn seen over the final six months of 2012.
Jupiter chief executive Edward Bonham Carter says: “Retail fund flows in the UK remained resilient on the back of the market rally early in the year, although the overall -environment has been quiet as distributors adapt to RDR.
“While bond funds saw net redemptions in the early stages of the year, demand for these products, together with absolute return funds, recovered into the second quarter, indicating that the widely predicted ‘great rotation’ out of bonds is not yet underway.”
Across the whole group, net inflows were £418m over the six-month period, after redemptions from segregated mandates.
Jupiter’s total assets under management reached £29bn at the end of June, up 10.3 per cent from the £26.3bn seen at the start of the year.