LONDON (Reuters) - Jupiter Fund Management (L:JUP) on Monday posted a 2.3 percent decline in third-quarter assets under management, hit by volatility in global markets.
Assets fell to 33.5 billion pounds in the three months to the end of September, down from 34.3 billion pounds at the end of June, the firm said in a statement.
In spite of the falls, its mutual funds took in 196 million pounds over the period, boosted by demand for its European equity strategies and Dynamic Bond funds, Jupiter said.
"I'm pleased that our mutual fund franchise again delivered positive net flows this quarter despite a difficult market backdrop, benefiting from the continued delivery of our strategy to diversify by product, client type and geography," said Chief Executive Maarten Slendebroek.
The firm's segregated mandates, in which Jupiter runs money for institutional clients in individual accounts rather than in combination with other clients, saw 142 million pounds pulled out by investors during the quarter.
Jupiter put this down to "top-slicing", where a client removes some money from a fund after a period of good investment performance.