LONDON (dpa-AFX) - Jupiter Fund Management plc (JUP.L), in its trading update in respect of the three months to 31 December 2018, reported that its Net outflows were 1.5 billion pounds. AUM at 31 December 2018 of 42.7 billion pounds, a reduction of 5.0 billion pounds in the quarter of which 3.5 billion pounds was driven by market decline.
Net mutual fund outflows were 1.7 billion pounds during the quarter, 1.3 billion pounds of which were from Fixed Income strategy, principally in Continental Europe and the UK.
Segregated mandates saw a 0.2 billion pounds net inflow during the quarter from clients adding to their positions in existing portfolios.
The company stated that US Equity Long Short (SICAV) Fund was launched in the quarter adding to Liquid Alternatives offering. The US Small & Midcap Companies (UT) Fund was closed in the quarter contributing 12 million pounds to net outflows.
Jupiter will be issuing results for the period ended 31 December 2018 on 1 March 2019.
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