Fund manager Jupiter pulled in an extra £500 million of money to look after in the first three months of this year as retail investors bought into its unit trusts and mutual funds.
New chief executive Martin Slendebroek said: “These flows came predominantly from our mutual fund franchise, which will continue to be the main driver of growth going forward following the recently announced disposal of our private client operations.” They were sold to Rathbone Brothers for £43 million.
Jupiter’s funds under management increased to £32.2 billion between December and March with just £5 million of the £552 million increase down to positive movements in financial markets and the rest from fresh inflows.
Slendebroek said the savings markets it targets have long-term growth prospects, and he plans to broaden its geographical spread.
The shares dipped 7.4p to 397.5p.
