- Asset manager Jupiter Fund Management reported a rise in assets under management as positive investment performance offset net outflows.

For the three months to 30 September 2021, assets under management increased by £0.4bn to £60.7bn, compared with the June quarter.

Net outflows of £569 million were primarily driven by net redemptions from mutual funds and continued weaker client demand for UK and European equity strategies.

'These outflows were partially offset by inflows of over £300m across our fixed income strategies,' the company said.

'We also saw outflows from our merlin range and our systematic strategies, predominantly the North American equity fund and a reversal of flows into the global equity absolute return fund,' the company said.

Positive market movements of £1.0 billion were partially offset by £0.6 billion of net outflows, primarily in the first month of the quarter.

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