Jupiter Fund Management saw £1.6bn in net outflows for the quarter ended 30 September, taking total net outflows for the year to date past the £5bn mark.

This is fifth quarter in a row the fund manager has reported net outflows

Gross outflows for the quarter were £5.5bn, in line with the gross outflows of £5.6bn reported for the previous quarter. Of these £5.1bn came from the retail, wholesale and investment trusts section of the business.

Net inflows also remained steady at £3.9bn for the quarter (Q2 2024: £3.8bn).

The majority of the net outflows were attributed to the strategies managed by Jupiter’s value desk, including £1.1bn of net outflows from segregated mandates. The fund manager expects most, if not all, of its remaining £2.3bn segregated mandates will be redeemed by year end.

Total assets under management decreased to £50.1bn as at 30 September (£51.3bn as at 30 June).

Jupiter recently announced the expected closure of two funds within its emerging market debt business. The fund manager saw just under £0.3bn of net outflows from this during the quarter.

Jupiter recently agreed to acquire the team and around £0.8bn of assets from Origin Asset Management. The deal remains subject to the approvals and consent. These assets are predominantly from Institutional clients and Jupiter said the acquisition it will increase its scale in Global Emerging Markets and “broaden” its appeal with investment capabilities in International ex-US and Global Smaller Companies.

Jupiter has been having a hard couple of years. Statutory pre-tax profit at the fund manager slumped by 84% to £9.4m for the year ended 31 December 2023, compared to £58m in 2022.

Jupiter will be releasing its full year results on 27 February 2025