Jupiter Fund Management enjoying 2012 share bonanza

Jupiter Fund Management has started to benefit from the big share price rises seen in the first three months of this year, although the investment firm still saw net outflows in the first quarter.

Assets under management ("AUM") increased from £22.81bn at the end of last year to £24.2bn by the end of March on the back of big rises in equity values.

The company even saw a small inflow of £55m into its mutual funds. Overall, however, segregated mandate and private client reductions left Jupiter with a net outflow of £113m during the period.

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The market liked what it saw, with Jupiter shares gaining 1.25% by 08:46. Over the last 12 months the stock is still down 16.5%.

BS