(Sharecast News) - Jupiter Fund Management saw its assets under management jump by 42% in the third quarter to reach £55.7bn, although the increase was entirely due to the consolidation of assets from recently acquired Merian.
Net outflows for the three months to 30 September meanwhile printed at £953m, partly offset by £0.8bn of market returns. Nevertheless, Jupiter branded products did see net inflows of £56m, even if market returns on this side of the business amounted to just £74m.
The bulk of the outflows at Merian originated from its Systematic strategy funds, which saw £0.4bn walk out the door, while the Global Equity Absolute Return fund saw outflows of £0.2bn.
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