Jupiter Fund Management AuM rise in Q1, outflows slow
Jupiter Fund Management reported a rise in first-quarter assets under management on Tuesday, as outflows slowed.
Financial Services
15,999.21
17:14 04/10/24
FTSE 250
20,900.08
17:14 04/10/24
FTSE 350
4,570.17
17:14 04/10/24
FTSE All-Share
4,527.24
16:54 04/10/24
Jupiter Fund Management
87.50p
16:40 04/10/24
In the three months to the end of March 2019, assets under management increased to £44.1bn from £42.7bn at 31 December 2018.
Meanwhile, net outflows during the period were £0.5bn. The fund manager said these were predominantly from its European Opportunities and Fund of Funds strategies, principally within the UK.
Shore Capital said: "This now represents five consecutive quarters of net outflows for Jupiter. With 2018 dominated by redemptions from fixed interest funds, mainly Dynamic Bond (which had seen strong inflows in 2017), we forecast Jupiter flipping to a net inflow position in the course of 2019 as this trend moderates.
"The Q1 ’19 figure net outflow figure of £0.5bn is an improvement on the £1.2bn quarterly average in 2018 (including £1.5bn in Q4), but we suspect investors may have hoped for slightly stronger progress given the slowdown in fixed interest redemptions."
At 0810, BST the shares were up 0.9% at 387.30p.