first_img Share whatsapp Tuesday 19 October 2010 7:48 pm whatsapp Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap ASSET manager Jupiter posted a 12 per cent rise in assets under management to £22.2bn at 30 September, trumping analyst forecasts and lifting its shares sharply yesterday.The company, which listed on the London Stock Exchange this summer, reported net inflows of £734m in its third quarter as investors flocked to its mutual funds, especially its Merlin fund of funds and Sicav products.The segregated mandate business – in which Jupiter manages money for institutional investors — had net inflows of £210m, benefiting from the funding of a new mandate and additional assets from existing clients.Jupiter’s shares rose 9.6 per cent to 285p, well up on their 165p June listing price, prompting Numis analysts to upgrade their rating to “add” from “hold” after asset growth outpaced expectations.“We believe the group deserves a premium valuation to reflect premium growth, low earnings volatility and superior margins,” Numis said in a note yesterday.Earlier this month, Jupiter launched a Strategic Total Return fund and a Global Convertibles fund to be managed by recent hires Miles Geldard and Lee Manzi. It said that initial flows into these funds had been “encouraging”.A global emerging markets unit trust run by Kathryn Langridge, who joined in July, will launch in the fourth quarter, Jupiter added.In its half-year results, Jupiter’s chief executive Edward Bonham-Carter said the hedge funds business was moving onshore and its absolute return funds were delivering strong growth. KCS-content center_img Jupiter flying high as assets shoot up 12pc Show Comments ▼ Tags: NULL Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndolast_img

Jupiter flying high as assets shoot up 12pc

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