Stock Market News
Jupiter Fund Management under pressure as first-quarter AuM drop
Jupiter Fund Management was under the cosh on Wednesday as it posted a drop in first-quarter assets under management.
In the three months to the end of March 2018, assets under management fell 6.6% to £46.9bn amid net outflows of £1.3bn, in what the company called a "challenging start" to the year, with negative market returns across all channels.
The majority of the outflows came from the fixed income asset class, where clients withdrew a net £1.1bn of assets. In addition, there was a £0.3bn net outflow from the segregate mandate category, as one "long-standing institutional client" withdrew assets as it rebalanced its portfolio.
Geographically, the UK was broadly flat during the quarter, however all other regions contributed net outflows, with Continental Europe and Asia the most impacted.
Chief executive Maarten Slendebroek said: "We have seen a period of market turbulence together with subdued demand, resulting in net outflows of £1.3bn in the first quarter. As indicated in our financial results presentation on 27 February 2018, this change in the flows trend is not unexpected. The growth of assets sourced from international distribution partners has changed Jupiter's flow profile to being less predictable in the short term. As a result, in future we expect to see continued growth but with higher quarterly differentiation.
"The continuation of our strategy of diversification by product, client type and geography and our approach to active asset management leave us well placed, both internationally and within the UK across a broad range of strategies."
At 0905 BST, the shares were down 4.8% to 444p.
In the three months to the end of March 2018, assets under management fell 6.6% to £46.9bn amid net outflows of £1.3bn, in what the company called a "challenging start" to the year, with negative market returns across all channels.
The majority of the outflows came from the fixed income asset class, where clients withdrew a net £1.1bn of assets. In addition, there was a £0.3bn net outflow from the segregate mandate category, as one "long-standing institutional client" withdrew assets as it rebalanced its portfolio.
Geographically, the UK was broadly flat during the quarter, however all other regions contributed net outflows, with Continental Europe and Asia the most impacted.
Chief executive Maarten Slendebroek said: "We have seen a period of market turbulence together with subdued demand, resulting in net outflows of £1.3bn in the first quarter. As indicated in our financial results presentation on 27 February 2018, this change in the flows trend is not unexpected. The growth of assets sourced from international distribution partners has changed Jupiter's flow profile to being less predictable in the short term. As a result, in future we expect to see continued growth but with higher quarterly differentiation.
"The continuation of our strategy of diversification by product, client type and geography and our approach to active asset management leave us well placed, both internationally and within the UK across a broad range of strategies."
At 0905 BST, the shares were down 4.8% to 444p.
Related share prices |
---|
Jupiter Fund Management (JUP) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price