Jupiter bucks passive investment trend, taking in more money
Despite investors flocking to passively managed fund products, Jupiter Fund Management has managed to attract fresh fund flows via its actively managed suite of products. The firm pulled in £1.2bn ($1.6bn) during Q3 2017, taking its assets under management to £48.4bn, a new record high for the firm. Jupiter charges higher fees than some of its competitors, noted CEO Maarten Slendebroek, but is also currently delivering outperformance. 
J upiter Fund Management showed on Wednesday it is defying the fashion for cheap index-tracking funds, winning clients thanks to its skill as a stock picker.

It took in another £1.2 billion of client money in the past quarter, taking total assets under management to a record £48.4 billion, and suggesting there is still life in active fund management.

Jupiter chief executive Maarten Slendebroek describes the company as a “high conviction active asset manager”.

Its charges are higher than some rivals, but customers reap the benefit in better returns, he insists, resisting the trend for lower fees.

A note from broker Cenkos, titled Not Reading the Script, said: “Revenue margins are declining… costs are rising and active management is dead.

“Or so it is said in some quarters, and Jupiter was meant to be the eye of the perfect storm according to some commentators.”

Cenkos analyst Rae Maile added: “There is no sign that manage-ment is paying attention to the siren voices of doom. We expect that consensus for this year and next will edge higher, again.”

Not all stock pickers can claim to be doing so well. Yesterday it emerged that Jupiter has pulled more than £300 million from the flagship income fund run by Neil Woodford (pictured) in alarm at its poor performance.

Woodford has seen several of his top share picks — notably Provident Financial — suffer this year. He has also lost money on AstraZeneca and Allied Minds, leading him apologising to investors.

Jupiter shares were today up 4.5p at 558p.