Funds under management at Jupiter Asset Management hit a record last year, with the group now looking to expand outside its home market of the UK.

Jupiter said today in its full-year results that it ended 2012 with £26.3bn in asset under management, up 15% compared with the figure at the end of 2011. The fund manager ended the year with net inflows of £1bn with inflows into mutual funds - which make up almost 80% Jupiter's AUM by product type - of £1.6bn.