Jupiter Fund Management has reported an increase in assets under management to £31.9bn for the year to December 31 2014, in spite of inflows slowing to £900m from £1.2bn the previous year.
In its latest full year results the fund management company confirmed that AUM rose slightly from £31.7bn in 2013 even thought it took “a number of conscious strategic decisions” which reduced AUM, including the sale of its private client contracts.
Chief executive Maarten Slendebroek (pictured) pointed to “healthy organic inflows” during the year and attributed this to its extended distribution reach across Continental Europe and Asia.
In a statement, he said: “This growing distribution network has delivered another healthy year of organic flow growth for Jupiter, with net inflows of £1.4bn across our mutual fund range. This was a very good outcome, given conditions in Jupiter’s chosen markets during 2014.”
He highlighted “particularly pleasing” international flows, which boosted Sicav AUM by more than 40 per cent to £4.3bn by the end of 2014.
The results also hailed the “successful sale” of the fund manager’s private client contracts to Rathbones last year, which saw net proceeds after tax of £22.4m distributed to shareholders.
Mr Slendebroek added: “It has been another busy and successful year for Jupiter. We have made encouraging progress on diversifying and growing our core mutual fund franchise.
“Positive investment performance, healthy organic inflows and an efficient operating platform, combined with the sale of our private client contracts, has seen continued value creation for our clients and total dividends double to 24.7p.”
According to Jupiter, at the end of last year 25 mutual funds, representing 51 per cent of its mutual fund AUM, had delivered above median performance over three years, down from 30 mutual funds at the end of 2013, citing the weaker performance of its Merlin fund strategy.
