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Jupiter gets Q1 new asset boost, bucks weak markets

Reuters

LONDON (Reuters) - Jupiter Fund Management (JUP.L) said on Wednesday that total assets had increased by 1.4 percent in the first quarter to 36.2 billion pounds helped by net inflows into its European equity and global bond funds.

Overall net inflows for the quarter to end-March were 723 million pounds, with an extra 443 million pounds flowing into its mutual funds and 274 million pounds into separate accounts for larger clients.

Despite the increased demand for its products, negative market moves crimped asset gains by 216 million pounds, the firm said in a statement.

"Continuing healthy levels of client flows affirm confidence we have in our strategy to broaden our network of distribution relationships in those markets and products which offer most potential for long-term growth," said Chief Executive Maarten Slendebroek.

(Reporting by Simon Jessop; editing by Carolyn Cohn)