Jupiter

Retail banks are the most likely driver of consolidation in the platform market, according to a leading back-office provider.

The CEO of fund management group Jupiter has said the significant disruption facing platform business models in the run-up to implementation of the Retail Distribution Review (RDR) will lead to consolidation in the space.

Strong retail fund flows in the first half of 2012 have driven Jupiter's AUM to £23.4m, exceeding analyst expectations as the group reported net profit of £31.2m for the period.

More than two-thirds (69%) of advisers think multi-manager funds will get a boost from the Retail Distribution Review (RDR), an industry poll has found.

John Hamilton is to step down from his role as head of fixed interest at Jupiter after almost 25 years at the group.

FIVE THINGS

Jupiter is preparing to add a cautious product to John Chatfeild-Roberts' £7bn Merlin range, Investment Week understands.

Allianz Global Investors has today launched a range of four risk-graded portfolios, the Allianz RiskMaster funds.

Fund groups are scrambling to develop risk-rated propositions ahead of the RDR deadline at the end of this year, with major houses including Jupiter planning how to enter the space.

Four major fund houses have joined forces with technology provider IFDS to white-label enhanced online propositions for their existing direct customers ahead of RDR.