Jupiter Fund Management saw its assets under management fall slightly over the third quarter of this year, though chief executive Maarten Slendebroek said its mutual fund franchise had performed well in difficult market conditions.
The company’s total assets under management fell from £34.3bn on June 30 to £33.5bn at the end of the quarter, in part because of outflows from the segregated mandates part of the business.
However Jupiter enjoyed net mutual fund inflows of £196m in the quarter.
Mr Slendebroek said: “I’m pleased that our mutual fund franchise again delivered positive net flows this quarter, despite a difficult market backdrop, benefiting from the continued delivery of our strategy to diversify by product, client type and geography.”
In the fourth quarter the group plans to simplify its Sicav structure by introducing an aggregated operating expense fee.
This will replace the current arrangement where Sicav investors are subject to variable operating expenses.
