Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Jupiter tight-lipped on wealth sale as assets burst £30bn

Jupiter tight-lipped on wealth sale as assets burst £30bn

Assets under management at Jupiter Fund Management grew by 20% in 2013 to £31.7 billion, the group has confirmed.

Cumulative net mutual fund inflows hit £1.2 billion for the year, with Jupiter attracting £458 million in the three months to 31 December 2013.

Edward Bonham Carter (pictured), Jupiter’s chief executive, attributed the flows to ‘improved client sentiment and strong delivery from our increasingly broad distribution network’.

Jupiter highlighted Ariel Bezalel's Strategic Bond and Dynamic Bond funds, Citywire AAA-rated Ben Whitmore's UK Special Situations and + rated Alexander Darwall's European funds as strong sellers during the past quarter.

However, Jupiter made no mention of the potential sale of its wealth business, with Rathbones, Quilter Cheviot and Towry among those linked with a possible bid earlier this week.

The numbers showed the division experienced an outflow of £10 million in the final three months of 2013.     O

In a statement to the Stock Exchange accompanying the update the firm said: ‘We continue to believe in the long-term growth prospects for the savings market. As we extend our relationships with key distributors on a global basis, we are confident we can continue to deliver profitable growth at attractive margins and, within our sustainable balance sheet structure, share the rewards of this growth with our investors.’

Numis analyst David McCann supposed that the mooted sale of the private client division for £50 million could prompt Jupiter to pay a special dividend of up to 11p.

McCann added: ‘With a significant bias to equities, distributed to retail investors, we believe Jupiter is one of the most favourably exposed to a sustained improvement in investor risk appetite for both flows and performance.

‘We continue to believe the main value in Jupiter lies in its long term potential to exploit a structural growth opportunity in the retail savings market from the shift from defined benefit (institutional) to defined contribution (retail) pensions.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Ben Whitmore
Ben Whitmore
99/147 in Equity - UK (All Companies) (Performance over 3 years) Average Total Return: 31.92%
Ariel Bezalel
Ariel Bezalel
18/54 in Bonds - Sterling Strategic Bond (Performance over 3 years) Average Total Return: 17.60%
Alexander Darwall
Alexander Darwall
10/83 in Equity - Europe Excluding UK (Performance over 3 years) Average Total Return: 55.14%
Citywire TV
Play Dispelling the sustainable investing myths

Dispelling the sustainable investing myths

There's a bit of a buzz around sustainable investing at the moment. We speak to three wealth managers to find out what they think.

Play Inside ETFs: positioning for the Fed rate rise

Inside ETFs: positioning for the Fed rate rise

Natalie Fast discusses how investors are using ETFs to position for a rate rise with guests Irene Bauer from Twenty20  Investments and Markit's Simon Colvin.

Play Wealth Manager Retreat: video highlights

Wealth Manager Retreat: video highlights

The UK's leading wealth management talent gathered at our annual event at the Grove celebrate the best in private client portfolio management.

Wealth Manager on Twitter