LONDON (dpa-AFX) - Jupiter Fund Management plc. (JUP.L) reported that its Assets under management or AUM for the third-quarter ended 30 September 2022 declined to 47.4 billion pounds, from 48.8 billion pounds in the second quarter ended 30 June 2022, hurt by negative net outflows and 0.8 billion pounds of negative market movements.
There were negative net outflows in the period of 0.6 billion pound.
The company net inflows from Institutional clients of 0.5 billion pound, driven by a large mandate from a sovereign wealth fund. Net redemptions in the Retail & wholesale channel slowed to 1.1 billion pound.
Jupiter said it will commence a share buyback program to repurchase and subsequently cancel shares for up to a maximum consideration of 10 million pounds. The Program will commence on 24 October 2022, and is expected to be completed by no later than 31 December 2022.
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