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Jupiter sees AUM growth marred by outflows

News Team, 20/04/2021

Listed asset manager Jupiter Fund Management today issued a trading update for the its first quarter ending 31 March.

The firm’s assets under management hit £58.8 billion by the end of the reporting period, a slight increase on the record £58.7 billion Jupiter finished 2020 on.

However, there were net outflows of £848 million from the firm’s branded mutual funds which is attributed to ‘lower client demand for UK and European-focused equity strategies’.

The statement added that these outflows were partially offset by inflows into its Dynamic and Strategic Bond fund as well as its gold and silver strategies, coupled with positive flows into the firm’s Global Equity Absolute Return fund.

Looking at the breakdown of Jupiter’s offering, it was the firm’s investment trusts that were in the black to the tune of £221 million at the end of the reporting period. The was led by a capital raise by the Chrysalis Investment Trust.

Its segregated mandates saw total net outflows of £149 million despite NZS Capital attracting £250 million of net new money.

The reason for the uptick in AUM was due to positive market movements, which irradicated all of the outflows contributing £837 million to Jupiter’s top line. The firm ended 2020 with total net outflows of £4 billion, a slight improvement on 2019’s £4.5 billion but something the management is clearly trying to stem.

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