Jupiter Fund Management PLC on Friday said overall flows in its third quarter and year to date were in line with its expectations, with continued net outflows but positive underlying net inflows.
The London-based ‘high-conviction’ active asset manager said net outflows for its third quarter ended September 30 were £1.6 billion, resulting in total net outflows of £5.0 billion in the calendar year to date. Total underlying net outflows for the first nine months of the year were just over £200 million.
However, Jupiter said underlying flows were ‘marginally positive’ in its third quarter. The positive inflows were caused by ‘strongly performing capabilities in areas of robust client demand’, as total assets under management in its Asian and emerging market equities capability increased 11% to £6.9 billion from £6.2 billion across the third quarter.
The underlying flows exclude flows related to the Value team, which is suffering redemption of segregated mandates. The underlying measure also excludes the loss of management of Chrysalis Investment Trust.
Total assets under management for Jupiter on September 30 were £50.1 billion, down 2.4% from £51.3 billion on June 30.
Jupiter will issue its full-year results on February 27.
Shares in Jupiter Fund Management were down 1.7% at 86.10 pence each in London on Friday morning.
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