10th Jan 2019 08:59
LONDON (Alliance News) - Jupiter Fund Management PLC on Thursday reported a fall in assets under management partly due to "market decline" and net outflows.
As at December 31, assets under management stood at GBP42.67 billion, down from GBP47.72 billion at the end of September.
The majority, GBP36.94 billion, of FTSE 250 Jupiter's assets under management are in mutual funds.
Mutual fund outflows were GBP1.74 billion in the period, GBP1.3 billion of which were from fixed income operations mainly in the UK and Continental Europe.
Overall, net outflows were GBP1.53 billion in the fourth quarter of 2018, from GBP833 million in the third quarter.
Market and foreign exchange movements in the fourth quarter were a negative GBP3.52 billion, swinging from a positive GBP319 million in the previous quarter, Jupiter said.
The company will report its results for 2018 on March 1.
Shares were 0.9% higher on Thursday morning at 307.20 pence each.
Related Shares:
Jupiter Fund Management