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Jupiter falls as clients pull £1.6bn in Q1
(Sharecast News) - Jupiter Fund Management shares fell on Tuesday as the investment firm saw net outflows of £1.6bn during the first quarter. It also reported a rise in group assets under management (AUM) in the first quarter to £52.6bn, driven by positive market movements of £2bn. Shares in the firm were down 6% in late London trade.
The AUM figure compares with £52.2bn in the three months to December. Net outflows were spilt equally between each of the retail, wholesale & investment trusts and institutional channels, Jupiter said on Tuesday.
Reporting by Frank Prenesti for Sharecast.com
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