Friday, 31 July 2015
Last updated 9 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…