Jupiter assets boosted by fund launches

Jupiter assets boosted by fund launches

A swathe of fund launches last year helped Jupiter increase its assets under management (AUM) by 24 per cent in 2017.

The firm attracted £5.5bn of net inflows in the 2017 calendar year, a steep increase on the £1bn of net inflows it attracted the year previously.

During 2017, the company launched several new funds, namely the Global Emerging Markets Corporate Bond fund, the Emerging & Frontier Income trust, the Global Emerging Markets Short Duration Bond fund and the Global Levered Absolute Return fund which was launched in October.

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The company said it expects to continue to develop the absolute return strategy in future.

Jupiter’s AUM at 31 December 2017 was £50.2bn, a £10bn increase on the previous year.

Elliot Broadbent, an analyst at RBC Capital said the update from Jupiter was in line with expectations and so does not significantly alter the outlook for the company's shares. 

Jupiter's shares were down 1.45 per cent at 8.30am.