15th Oct 2021 10:33
(Alliance News) - Jupiter Fund Management PLC on Friday reported a rise in assets in the third quarter.
The FTSE 250-constituent said its assets under management reached GBP60.74 billion on September 30, up 3.4% from GBP58.73 billion at the end of 2020.
Assets under management remained above the company's record high of GBP60.3 billion on June 30.
At the end of the recent third quarter, assets under management were 9.1% higher than the GBP55.69 billion reported at September 30, 2020.
The company said that through the third quarter, positive market movements of GBP1.0 billion were partially offset by GBP600 million in net outflows.
Net outflows of GBP569 million were driven by net redemptions from mutual funds and weaker client demand for UK and European equity strategies, Jupiter Fund said. These outflows primarily occurred during the first month of the quarter.
On the other hand, the company noted positive inflows of over GBP300 million across its Fixed Income segment and GBP100 million in its Global Sustainable Equities funds.
Shares in Jupiter Fund Management were trading up 2.2% at 244.80 pence each in London on Friday morning.
By Scarlett Butler; [email protected]
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