Jupiter AUM Flies Through £50bn; Rathbones' Unit Trust Assets Reach Record Level

The group said it saw net inflows of £600m in total resulting in £5.5bn in net inflows for the entire year.

AUM ended the year at £50.2bn, up from £48.4bn at the end of September 2017, while investment performance and FX added £1.2bn in Q4.

Achieving its goal of further diversification by client type, product and client reach, Jupiter said net inflows continued across all regions with continental Europe the highest contributor, while it also experienced flows from Thailand and Latin America.

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However, following the closure of the Dividend & Growth trust in November, there were net outflows in the investment trust channel.

Maarten Slendebroek, chief executive of the group, commented: "This year has been one of consistent progress at Jupiter. Continued strong investment performance has enabled us to deliver positive returns after fees for clients. The successful continuation of our strategy of diversification produced total net inflows for the year of £5.5bn, including £5.1bn of net flows into our mutual funds across a range of investment strategies.

"These positive flows, which are underpinned by our ability to deliver investment outperformance, have helped drive a 24% increase in AUM over the year to £50.2bn at 31 December 2017."  

Rathbones

Meanwhile, Rathbone Brothers said its unit trusts arm's funds under management (FUM) reached a record £5.3bn by the end of 2017, up 32.5% from £4bn at the start of the year.

Total net fund inflows for the division totalled £272m in Q4, compared to £125m the previous year, and were £883m for the full year, a rise from £554m the year before.

Its investment management business also saw FUM climb to £33.8bn, an increase of 11.9% from £30.2bn at the start of the year, while net inflows were £290m - flat on the previous year.

Overall, the group's total FUM stood at £39.1bn by the end of 2017, up 14.3% from £34.2bn at the end of 2016, with total net inflows across the group for year of £2.1bn, a 6% increase.

Polar Capital

At Polar Capital, another group updating on AUM this morning, it was reported AUM had reached £11.7bn by the end of 2017, up from £9.3bn at the end of March, as it also reported a marked increase in net performance fee profit.

The group said it had a "satisfactory quarter" with "pleasing inflows" despite the closure of four underperforming funds.

AUM increased by £1.1bn in the fourth quarter of which £597m were net inflows and £507m related to market movement and performance.

Net performance fee profit, after the deduction of staff interests, was posted at £15m for the nine-month period to the end of December 2017. This was an increase from the £1.2m posted for the same period in 2016.

A statement said: "This update confirms that the momentum of net inflows over the past quarters has continued and the final performance fee profits for the year that crystallised at the end of December are a significant improvement on last year's figure."