Jupiter Fund Management AuM fall in Q3; net outflows at ?1.3bn
By Michele Maatouk
Date: Friday 11 Oct 2019
(Sharecast News) - Jupiter Fund Management reported a decline in third-quarter assets under management on Friday.
In the three months to the end of September, assets under management fell by £0.8bn from the previous quarter to £45.1bn. Analysts had been expecting AuM of £45.6bn.
Meanwhile, net outflows for the period came in £1.3bn versus consensus expectations of £700m.
Net mutual fund outflows were £1.0bn during the quarter, of which £1.1bn outflows were from Jupiter's European Growth strategy, mostly within the UK and Continental Europe. The outflows came as star fund manager Alexander Darwall, , manager of the European OpportunitiesTrust, prepares to leave Jupiter later this year to set up his own company.
Segregated mandates saw £0.3bn net outflows. Within this, two clients withdrew assets totalling £0.7bn and two new mandates were opened totalling £0.4bn.
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