Jupiter Assets Rise In Third Quarter

Oct 21 2010 | 4:54pm ET

Jupiter Asset Management's first quarter as a public company was a successful one, at least in terms of assets under management. The London-based firm saw its funds grow by 12% in the third quarter to £22.2 billion, topping analysts' expectations.

The firm managed slightly less than £20 billion in June, when it raised £220 million in its initial public offering. In contrast to most alternative investment IPOs, Jupiter's has proven a success, with shares rising nearly 50% during their first four months of trading.

Jupiter said that net inflows accounted for £734 million of the asset increase, with investment performance accounting for £1.6 billion. The firm has not yet released profit figures for the quarter.

"Trading conditions are in line with management expectations and the group remains confident of its prospects for the full year," Jupiter said.

All of the growth, however, what outside of Jupiter's hedge fund unit, which actually saw a £13 million net outflow. Most of the inflows went to its mutual funds.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...