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.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of