Jupiter Fund Management, the investment firm headed by Helena Bonham Carter's brother, Edward, saw its assets under management (AUM) rise in the three months to the end of last year.
The performance was driven by positive market movements amounting to £733m over the quarter, which more than compensated for net outflows of £225m.
Jupiter put the outlows down to the loss of a single mandate from an institutional client and the "poor" retail sales environment.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
By the end of last year total assets under management had reached £22.8bn and the firm was operating a positive cash balance which Bonham Carter described as "pleasing".
Jupiter will, however, be closing its Bermuda office in response to the reduced scale of its hedge funds, incurring a £1m charge to the end of year results.
In its outlook statement Jupiter said markets are likely to remain volatile with "subdued" flows. The firm reiterated, however, that it believes in the long term growth prospects of the savings market.
BS
-
Will a Santa Rally bring festive cheer to investor portfolios this year?Investors will be hoping for a seasonal stock market boost in December
-
ChatGPT turns two: how has it impacted markets?Two years on from ChatGPT’s explosive launch into the public sphere, we assess the impact that it has had on stock markets and the world of technology
