JupiterOct 11 2018

Jupiter's AUM falls as bond exodus continues

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Jupiter's AUM falls as bond exodus continues

Jupiter saw net outflows of £800m in the three months to the end of September.

But Jupiter bosses said this was partly offset by positive market performance of £300m, which meant the fund manager's assets under management fell from £48.2bn to £47.7bn.

Outflows were mainly focused in Jupiter's fixed income strategy, which lost £600m in assets, with Continental Europe being the main driver of these redemptions.

Jupiter's assets have been falling throughout 2018 as investors have fled fixed income funds and the company has posted several successive periods of net outflows.

Since earlier this year higher interest rates in the US and UK have sparked fears among many investors that a bond market sell-off is imminent.

But Jupiter also saw negative flows in its European Opportunities and fund of funds strategies.

Meanwhile there were positive flows into Jupiter's European Growth, Value Equities and Absolute Return funds.

Jupiter started the year with £50.1bn in assets under management but posted outflows of £2.3bn in the first six months of 2018.

damian.fantato@ft.com