24th Apr 2025 12:10
(Alliance News) - Jupiter Fund Management PLC on Thursday said its asset under management fell in the first quarter due to net outflows and negative market movements.
The London-based active asset manager said group assets under management decreased by 2.2% to GBP44.3 billion at the end of March from GBP44.3 billion at the start of the quarter.
Jupiter Fund Management said it saw GBP500 million total net outflows in the first quarter.
It generated net positive inflows of GBP1.0 billion in the Institutional channel which were more than offset by GBP1.5 billion of net outflows from retail clients.
The company said positive Institutional flows were driven by the funding of a large mandate within its systematic equities capability, as well as inflows from the completion of onboarding assets managed by Jupiter Origin.
"Our pipeline remains strong and we are confident of continuing to generate further net inflows from Institutional clients through 2025," Jupiter Fund Management said.
The company said trade policy uncertainty added to "an already challenging macro environment" which had a negative impact on client sentiment in the retail, wholesale and investment trusts channel.
"However, notwithstanding an increase in concerns over inflation and global growth, investment performance across these strategies has seen a notable uptick," Jupiter noted.
Despite "significant moves" in global markets, Jupiter said it has not seen a material change in client sentiment or flow activity since the end of March.
"Although this market environment presents obvious challenges, increased volatility, higher dispersions of returns and a break-down in market correlations should, over the medium term, be a more favourable environment for high conviction, truly active management to evidence its value proposition," the company said.
Jupiter said it is "ideally positioned" to take advantage of investors reallocating away from the US and towards other markets, if this were to take place.
Shares in Jupiter Fund Management were down 0.4% to 69.90 pence in London on Thursday morning.
By Michael Hennessey, Alliance News reporter
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