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Jupiter readies two fund launches

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Jupiter Fund Management is preparing to launch two funds before the end of the year after reporting a rise in inflows during 2015.

By the end of the year Jupiter plans to launch a new income fund, an Enhanced Distribution fund, which will follow the strategy of the existing £567m Distribution fund managed by Alastair Gunn and Rhys Petheram. Further details on how the fund will differ from the existing strategy have not been released.

The firm is also developing plans for its first targeted Asian income fund, which will be launched later this year. The fund will be managed by former Newton manager Jason Pidcock, who joined Jupiter in May this year.

Jupiter chief executive Maarten Slendebroek says: “These are important steps along the journey of transforming our product range from one primarily designed around our UK client base to one that offers a variety of attractive options to our increasingly international distribution partners.”

Jupiter reports net mutual fund inflows of £1.4bn for the first half of 2015, up from £1.3bn during the same period last year.

The group says the flows in the first half of the year went mainly into its Strategic Bond fund and European equity products, with continental Europe and Asia being the “best performing areas”.

Jupiter also saw assets under management increase to £34.3bn up from £33.1bn in the first half of 2014 and £31.9bn at the end of last year.

Profit before tax also increased to £84m from £48.4m in the same period one year ago.

Slendebroek says: “The first half of 2015 has seen continued strong delivery on behalf of all our stakeholders, validating our strategy to focus on investment outperformance, organic net flow growth and a scalable business model.

“We have seen encouraging progress with our conscious diversification by product, client type and geography and made key hires in our investment, distribution and support functions which contribute to our ability to achieve further scalable growth in periods to come.”

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