April 23 (Reuters) - Britain's Jupiter Fund Management reported a slight rise in its assets under management for the first quarter on Tuesday, despite net outflows of 1.6 billion pounds ($1.97 billion), as investor sentiment improved.

The company said the outflows included 1.1 billion pounds of redemptions from strategies managed by its Value team.

Assets under management stood at 52.6 billion pounds by March-end, up from 52.2 billion pounds as at Dec. 31. ($1 = 0.8107 pounds) (Reporting by Eva Mathews in Bengaluru; Editing by Subhranshu Sahu)