Jupiter Fund Management's assets under management rose to £40,543m in the three months to the end of December from £40,356m as market gains and investment performance more than offset net outflows.
Jupiter said: "Net mutual fund outflows were £355m during the fourth quarter, driven by institutional clients rebalancing their holdings in our Merlin and European strategies. Inflows to our Absolute Return and Fixed Income strategies remained strong and we saw promising inflows into our Emerging Markets strategy.
"Market gains in the quarter marginally offset net flows as global indices ended at or near record highs. For the year overall, the combination of net inflows and investment performance, as well as currency effects, led to mutual fund AUM increasing to £35.2bn as at 31 December 2016, an increase of 13%."
- Cumulative net mutual fund inflows of £859m in the year to 31 December 2016, resulting in total AUM of £40.5bn (31 December 2015: £35.7bn).
- Overall net outflows for the quarter of £373m, of which net mutual fund outflows were £355m.
Chief executive Maarten Slendebroek said: "Overall, 2016 was positive for Jupiter. We continued to diversify our business by product, client type and geography and delivered strong investment performance after fees across a broad range of strategies.
"Net mutual fund flows for the year were positive at £0.9bn although in the fourth quarter we experienced net outflows of £0.4bn, including the repositioning of a large institutional client's mandate. The effects on Jupiter of wider market uncertainty during the year were muted, with positive flows contributing to a year on year increase in total AUM of 13%."
At 8:00am: (LON:JUP) Jupiter Fund Management plc share price was -13.75p at 431.25p