16th Oct 2020 08:42
(Alliance News) - Jupiter Fund Management PLC on Friday said completion of the buyout of Merian Global Investors resulted in a 42% jump in quarterly assets under management.
Shares in Jupiter were down 3.3% at 231.00 pence each in London.
The FTSE 250-listed fund manager completed the GBP370 million acquisition of Merian Global Investors at the start of July, with operational integration achieved by September 30.
Jupiter's AuM at September 30 totaled GBP55.69 billion, up sharply from GBP39.21 billion at June 30, with the Merian Global acquisition adding GBP16.64 billion. Operationally, the company saw net outflows of GBP953 million in the third quarter, partly offset by GBP800 million of market returns.
Net outflows comprised GBP100 million of net inflows in Jupiter branded products offset by GBP1.0 billion of net outflows in Merian branded products.
By divisions, Mutual funds saw a 1.2% rise in AuM to GBP34.69 billion. Segregated mandates AuM fell 6.2% to GBP4.38 billion, while investment trusts saw AuM decline 1.4% to GBP272 million.
Jupiter is slated to release its 2020 results on February 26, 2021.
By Tapan Panchal; [email protected]
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