Purchasers who entrusted their money to Jupiter Fund Administration’s star stockpicker Ben Whitmore pulled a web £1.1 billion out of the enterprise within the three months to March after he introduced he was leaving to arrange his personal agency.
Jupiter additionally disclosed it had forgone one other £800 million mandate due to the departure of the 2 fund managers who ran the FTSE 250 funding belief Chrysalis Investments.
General, web outflows within the March quarter amounted to £1.6 billion, although sturdy markets greater than offset the shopper defections, with Jupiter reporting whole belongings beneath administration up by £400 million to £52.6 billion.
London-based Jupiter has suffered from shopper withdrawals for a number of years because it struggles in opposition to the headwinds of traders shifting cash to index-tracking funds
