Latest News

Asset manager Jupiter net outflows accelerate, shares fall

© Reuters.

MADRID (Reuters) – British firm Jupiter Fund Management Plc (LON:JUP) reported net outflows of 1.6 billion pounds ($2.04 billion) for the first quarter on Tuesday, amid lower demand for UK and European-focused equity products and inflationary concerns.

Assets under management were 55.3 billion pounds, a decrease of 5.2 billion pounds from Dec. 31, driven by negative market returns of 3.6 billion pounds and net outflows.

Global equity funds are facing outflows on concerns over growth due to the conflict between Russia and Ukraine.

Data from Refinitiv Lipper showed exits from global equity funds hit their highest levels since December in the week to April 20, as investors fretted about recession, impending rate hikes by major central banks and a rise in real yields.

Jupiter, the second-largest provider of retail funds in Britain after the acquisition of Merian Global Investors, said its outflows were partially offset by net inflows of 200 million pounds from institutional clients, led by flows into the sustainability-labelled product range.

($1 = 0.7841 pounds)

Wealth manager Jupiter net outflows accelerate in the first quarter

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

More in:Latest News

Leave a reply

Your email address will not be published.