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164.60 4.20 (2.62%)

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Spread: 0.40 (0.243%)

Market Cap: £816.29m

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Jupiter Fund Reports Decrease In Assets Under Management In Quarter

Fri, 11th Oct 2019 08:38

(Alliance News) - Jupiter Fund Management PLC on Friday reported a quarter-on-quarter fall in assets under management due to a rise in outflows.

In the third quarter ended September 30, assets under management fell by 1.8% to GBP45.09 billion from GBP45.91 billion at the end of June, the equity and bond investor said. Year-on-year, the assets fell by 5.5% from GBP47.72 billion.

The fund management firm reported a 22% quarter-on-quarter rise in gross inflows to GBP4.01 billion from GBP3.28 billion but this was more than offset by growth in gross outflows which increased by 37% to GBP5.33 billion from GBP3.88 billion.

In mutual funds, assets under management declined in the quarter by 1.3% to GBP38.46 billion from GBP38.98 billion, while in segregated mandates the assets fell by 5.4% to GBP5.3 million from GBP5.6 million a year ago.

In investment trusts, however, the assets were broadly flat at GBP1.36 billion year-on-year.

Shares in Jupiter Fund Management were 0.3% lower at 317.10 pence each early on Friday in London.

By Eric Cunha; ericcunha@alliancenews.com