LONDON (ShareCast) - (Sharecast News) - Jupiter Fund Management posted an uptick in first-quarter assets under management on Tuesday, driven in part by positive market movements.
AuM rose by £0.6bn to £50.8bn. Jupiter pointed to positive market movements of £1.5bn and positive net flows from institutional clients of £0.1bn.

This was partially offset by £1.0bn of net outflows from the retail, wholesale and investment trust channel. Jupiter said the "risk off environment" seen through 2022 continued into the first quarter of this year.

Client demand for UK and European equities remained muted, it said, although this was partially offset by continued positive net inflows into global equity strategies. Outflows from fixed income continued to slow, but market uncertainty remains.

Jupiter said: "Positive momentum was maintained in the institutional channel as we again generated net positive flows.

"This was primarily driven by mandates funding into global equity strategies managed by NZS Capital. Our pipeline of late-stage opportunities remains strong and we look forward to increasing scale in this channel over the medium term."

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