LONDON (Reuters) - Jupiter Fund Management (>> Jupiter Fund Management PLC) took in fresh new money in the first quarter, gave a positive outlook and told investors they could expect future payouts in an update on Friday.

The group said it took in 547 million pounds to boost total assets under management to 32.2 billion pounds, with inflows to bond and equity funds from both UK and international clients.

"Jupiter delivered a further 0.5 billion pounds of net inflows in the first quarter as we continue to expand our distribution network and product set," said Chief Executive Maarten Slendebroek in a statement.

"These flows came predominantly from our mutual fund franchise, which will continue to be the main driver of growth going forward following the recently announced disposal of our private client operations," he added.

On April 1, Jupiter sold the operations to wealth manager Rathbone Brothers (>> Rathbone Brothers plc) in a deal valued at 43 million pounds.

On Friday, Jupiter said the deal would likely complete in the third quarter and that around 30 percent of the private client assets are held in collective vehicles run by Jupiter.

After the announcement of the Rathbones deal, analysts said the likelihood of Jupiter returning money to shareholders had increased.

In its statement, the firm, which is looking to expand its business overseas, said it was confident on the growth outlook and that it expected to "share the rewards" with investors.

(Reporting by Simon Jessop; Editing by Laura Noonan and Matt Scuffham)

By Simon Jessop

Stocks treated in this article : Rathbone Brothers plc, Jupiter Fund Management PLC