Jupiter Asset Management suffered £1.6bn of outflows during Q1 of its 2024 financial year, with £1.1bn alone leaving strategies managed by its value team.
Some £700m of these outflows from value strategies came from institutional clients, with the team’s assets shrinking from £8.5bn to £7.5bn over three months to the end of March.
A further £800m left via the beleaguered Chrysalis investment trust, following its board’s decision to remove Jupiter Asset Management and to hire co-managers Richard Watts and Nick Williams as its new independent advisers. Announced in November last year, the change in management came into place at the beginning of this month.
However, positive market movements of £2bn led to an increase in assets under management for Jupiter to £52.6bn.
Excluding Chrysalis and the firm’s value strategies, Jupiter generated net inflows of £300m over the quarter. Some £400m inflows came from retail, wholesale and investment trust channels, while it suffered £100m outflows from institutional investors.
Jupiter will announce its half-yearly results on 26 July this year.
