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(Alliance News) - Jupiter Fund Management PLC on Tuesday reported net outflows of GBP776 million in the first quarter, driven by low demand for UK and European-focused equity strategies.
Assets under management totalled GBP58.79 billion as of March 31, up slightly from GBP58.73 billion on December 31, as market returns offset outflows.
There were inflows to funds focused on bonds, gold and silver, and global equities, Jupiter said. But that wasn't enough to prevent this being the third consecutive quarter of net outflows, although the deficit narrowed from GBP1.01 billion in the previous quarter.
Shares in the FTSE 250-listed fund manager were down 0.1% to 277.80 pence in London.
By Ivan Edwards; ivanedwards@alliancenews.com
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