Jupiter shares slide as retail arm hit by £1.9bn outflows
Unconstrained fixed income funds and UK and European equity strategies main culprits behind Q1 redemptions
Unconstrained fixed income funds and UK and European equity strategies main culprits behind Q1 redemptions
Investment Association data shows US equities witnessed net outflows of £1.6bn in Q1
Asset manager ‘not immune to markets’
Excluding Haywood’s fund range, net outflows were CHF 5.3bn
Jupiter CEO Maarten Slendebroek reiterated that future flows will be “less predictable” as Jupiter diversifies its business away from the UK market, while addressing the firm’s other issues like its gender pay gap.
Jupiter has posted net outflows of £1.3bn over the first quarter, exceeding analysts’ already bearish predictions.
Polar Capital continued to feel the sting of outflows from four of its major strategies, resulting in its third consecutive year of net negative flows.
Three Franklin Templeton bond funds suffered more than €800m (£683m) outflows in January, according to Morningstar data.
In August, $51bn left the mainland, according to Standard Chartered estimates, as authorities increased support for the mainland currency, which is under devaluation pressure.
The latest statistics from the Investment Association showed net outflows of £1bn from United Kingdom funds in July, during the aftermath of the vote to leave the European Union.
The asset management division of Allianz saw operating profit fall 16% to 675m for the second quarter of 2014, on the back of continued third party net outflows of 17.2bn.
I stand corrected, Chris Crow. A lot of money is heading out the door at some pretty big groups.