Jupiter assets jump 9% to £24 billion

Jupiter Fund Management has seen its assets under management jump 9% to £24.1 billion in the final quarter of 2010.

The group has seen £772m of net inflows in the fourth quarter of 2010, including £529m in its mutual fund range, while market movements accounted for a further £1.1 billion increase in assets.

Jupiter has seen cumulative net inflows of £2.3 billion in 2010. Jupiter has attributed strong mutual fund flows in the final quarter to inflows into its fund of funds and European ranges as well as the launch of the global convertible and strategic total return Sicav products. (article continues below)

The leading fund manager has also highlighted the impact of industry discussions with the Financial Services Compensation Scheme over the planned interim levy on Investment Fund Management following the collapse of Keydata. Jupiter says the levy will impact all retail investment firms when raised.