The shares stood at 418p on Thursday morning, giving the business a market cap of £1.9bn.
Jupiter’s European strategies and Merlin multi-asset funds bore the brunt of the outflows, as predominantly institutional investors pulled money from them.
These withdrawals were partially offset by inflows to absolute return and fixed income strategies, which ‘remained strong’ while the firm’s emerging markets fund saw ‘promising inflows.’
The asset manager was still able to grow total asset under management to £40.5bn as of 31 December from £35.7bn at the end of 2015, despite the outflows. This was helped by market gains in the fourth quarter as global indices ended at or near record highs, Jupiter said.
Chief executive Maarten Slendebroek said:”Overall, 2016 was positive for Jupiter. We continued to diversify our business by product, client type and geography and delivered strong investment performance after fees across a broad range of strategies.”
“Net mutual fund flows for the year were positive at £0.9bn although in the fourth quarter we experienced net outflows of £0.4bn, including the repositioning of a large institutional client’s mandate,” he continued. £The effects on Jupiter of wider market uncertainty during the year were muted, with positive flows contributing to a year on year increase in total AUM of 13%.”
