jupiter redemptions gather pace

Jupiter Fund Management saw net outflows of £225m in Q4 as mutual fund redemptions gathered pace. But a positive market movement in the quarter led to an overall increase in AUM for the period, it said today.

jupiter redemptions gather pace


In a trading update the firm also said it anticipated a positive net cash balance sheet for its full year results.

AUM at the end of the quarter were up just over £500m to £22.8bn, despite net outflows of £93m from mutual funds and the loss of a segregated mandate amounting to £101m during the period.

Redemptions from mutual funds in the fourth quarter were well above the £36m seen in the previous quarter.

Jupiter’s statement said the loss of the segregated mandate from an institutional client followed a strategic asset allocation change and mutual fund sales continued to be affected by the eurozone crisis and worsening UK industry flow experience.

At the close of 2010 the fund house’s AUM stood at £24.07bn, which means over the year it has seen a reduction of £1.27bn.

This loss has come almost entirely from a drop in mutual fund AUM from £18.4bn in December 2010 to £17.2bn at the end of 2011.



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