Half Year Results 

Jupiter suffers outflows as Merian comes onboard

Jupiter suffers outflows as Merian comes onboard

A familiar tale in managed money, as Jupiter Fund Management (JUP) saw statutory profits halve as the pandemic sent investors running for the exit during the first half of the year. Net fund outflows came in at £2bn, an increase on the net £1.1bn pulled out by clients in the first half of 2019, with an accompanying 12 per cent fall in net management fees, though the asset manager did benefit from net inflows in four of the six months during the period. However, the outflows fed through to an 8 per cent decline in assets under management (AuM) to £39.2bn, although inflows eventually resumed due to a partial retracement in asset prices.

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