Jupiter net inflows fall for H1 2016
Jupiter saw net inflows for the first half of 2016 fall from a year before as the fund house declared itself “well prepared” for future volatility and the possible effects of Brexit.
In its results for the six months to June 30, Jupiter reported some £600m in net inflows. This was down from the £1.4bn for the first half of 2015, however.
Assets under management rose from £35.7bn at the end of 2015 to £37bn at the end of June this year.
Maarten Slendebroek, the firm’s chief executive, said: “Net flows were positive despite the market backdrop and we made further targeted investments to support our strategy of diversification by product, client type and geography which continues to deliver on behalf of our clients and shareholders.
“Jupiter is well prepared for a period of potentially heightened volatility and remains focused on accessing the opportunities presented by long-term demographic changes to deliver growth in a disciplined manner for our shareholders and clients.”
Recent initiatives by the company include the launch of its Asian Income fund, run by Jason Pidcock, earlier this year.
The firm is also set to put Magnus Spence, formerly of Fidante Partners and Dalton Strategic Partnership, into the newly created role of head of investments, alternatives, to focus on its offering in the “strategically important” asset class.
Meanwhile Mr Slendebroek suggested the impact of June’s vote for the UK to leave the EU could be limited.
“It is too early to comment on the long-term effects of the EU referendum held in the UK at the end of June but Jupiter continues to be well-positioned for the post-Brexit business environment,” he said.
“A full Brexit without an EU trade deal and without mutual passporting arrangements would trigger a limited amount of legal restructuring for Jupiter’s operations in continental Europe, but no movement of staff.”
