Jupiter Fund Management saw net inflows of £0.3bn in the third quarter, as the asset manager entered recovery following large outflows last year.

Year-to-date, Jupiter reported net inflows of £0.2bn, driven by improvement in retail investor sentiment, according to a trading update released today.

The asset manager had a rough year in 2024, with net outflows of £10.3bn. It reported net outflows for every quarter of the year.

Its retail, wholesale and investment trusts channel, saw net inflows of £0.8bn in the first quarter, partially offset by £0.5bn outflows across the institutional channel.

Jupiter’s UK equities capability generated net inflows of £0.5bn, with net inflows across all of UK Growth, UK Dynamic and UK Income strategies. These partly offset net outflows in Asian and Emerging Market strategies and Fixed Income.

Systematic equities saw a strong performance, generating net inflows of £0.3bn in the quarter and finishing the period with AUM of £13.6bn. The Global Equity Absolute Return fund saw £0.8bn of net inflows and World Equity saw £0.2bn of positive flows.

Assets under management as at 30 September were £50.4bn, a 7% increase over the quarter and an 11% increase year-on-year.

During the quarter, Jupiter announced that it had agreed to acquire specialist asset manager CCLA Investment Management Limited. In today’s trading update Jupiter said the acquisition is expected to complete in the first quarter of 2026.

The deal will add over £15bn in assets under management to Jupiter.

CCLA is a specialist asset manager serving non-profit organisations including charities, religious institutions and local authorities.

Jupiter will acquire the entire issued share capital of CCLA for £100m. The cash, paid on completion, will be funded from existing balance sheet cash resources.

In 2024 the fund manager saw underlying profits fall 7% to £97.5m, down from £105.2m the previous year, as net outflows soared to £10.3bn, up from £2.2bn.

The company was hit during the year by star manager Ben Whitmore leaving its Value equity team to set up a boutique firm. He had been with Jupiter since 2006 after joining the firm from Schroders and looked after around £10bn. His departure led to £6.2bn of outflows, the company said.

Jupiter will issue its full year results for 2025 on 26 February.