The chief executive of Jupiter Fund Management hailed the success of the firm's international expansion efforts as assets under management rose in the first half of the year, despite a slight decline in the second quarter as adverse market movements outweighed inflows.

Market movements in the three months to the end of June wiped £927 million off assets under management, outstripping £498 million in net inflows over the period to leave AUM at £34.3 billion compared with £34.8 billion three months earlier, Jupiter said today in its interim results for the first half.