Asset management Jupiter Fund Management PLC (LON:JUP) saw a positive inflow of funds to its unit trust products in the third quarter.
Net inflows totalled £1.25bn in the period on the unit trusts side, and £1.34bn for the whole of the business.
Assets under management (AUM) at the end of September stood at £48.4b3n, up 19% from the start of the year.
"We are pleased to report another quarter of healthy flows following on from a strong first half,” said Maarten Slendebroek, chief executive of Jupiter.
“Total net inflows were £1.3bn, including £1.2bn of net inflows into our mutual funds across a number of different investment strategies. The business momentum from our pursuit of business diversification allied with positive investment performance after fees has driven a 3% increase in AUM over the quarter and a 19% increase since the beginning of the year," he added.
Closing-in on a deal
The company had been in the news earlier this week after reporting pulling close to £300mln from the flagship income fund run by star stock picker Neil Woodford.
Woodford, who founded Woodford Investment Management in 2013 with the backing – among others – John Chatfield-Roberts, head of Jupiter Asset Management's Merlin funds range, appears to have lost his golden touch of late, with his most high profile misstep being doorstep lender Provident Financial, which has lost almost three-quarters of its value this year.
Woodford Investment is the second highest stakeholder in Provident.