Jupiter Fund Management (JUP) continued its impressive performance by lifting funds under management by £500m in the first quarter of the new year to £32.2bn. A bulk of the inflow was delivered through its mutual fund franchise, including strategic and dynamic bond as well as equity funds. And there was also a modest increase from a positive investment performance. The group also confirmed the sale of its private client operations to Rathbone Investment Management.
Jupiter has a significant exposure to equities, distributed to retail investors, and as such is well placed to take advantage of the changing investment picture. Most notably this will embrace a shift from defined-benefit schemes (now a rapidly diminishing pension model) into defined contribution schemes, where individual pension fund holders will have greater access to how their pension funds are invested.