- Net outflows continue
- A switch in favour of buybacks
Jupiter Fund Management (JUP) has released its first set of financial results including a full-year contribution from Merian Global Investors, acquired in 2020. The initial impression is that the deal has done little to aid client retention. Acquisition is another matter, of course. So, you have a situation in which gross inflows of £16.5bn stayed at the record levels achieved in 2020, yet net outflows, although marginally down on the prior year, remain stubbornly high at £3.8bn.