Jupiter Asset Administration suffered £1.6bn of outflows throughout Q1 of its 2024 monetary 12 months, with £1.1bn alone leaving methods managed by its worth group.
Some £700m of those outflows from worth methods got here from institutional shoppers, with the group’s property shrinking from £8.5bn to £7.5bn over three months to the top of March.
An additional £800m left by way of the beleaguered Chrysalis funding belief, following its board’s resolution to take away Jupiter Asset Administration and to rent co-managers Richard Watts and Nick Williams as its new impartial advisers. Introduced in November final 12 months, the change in administration got here into place originally of this month.
Nonetheless, optimistic market actions of £2bn led to a rise in property beneath administration for Jupiter to £52.6bn.
Excluding Chrysalis and the agency’s worth methods, Jupiter generated internet inflows of £300m over the quarter. Some £400m inflows got here from retail, wholesale and funding belief channels, whereas it suffered £100m outflows from institutional traders.
Jupiter will announce its half-yearly outcomes on 26 July this 12 months.
