Jupiter reports lower AUM in Q3 amid weak sentiment

Jupiter Fund Management on Friday reported lower assets under management (AUM) as clients pulled £1.6bn during the third quarter.

The UK-based asset manager reported AUM of £50.1bn in the three months of September 30, down from £51.3bnfrom the previous three months.

“Overall flows remain consistent with our expectations as set at the start of the year, despite no material improvement in client sentiment,” Jupiter said in a trading update.

Reporting by Frank Prenesti for Sharecast.com