Jupiter posts £626m net outflow for Q4

Jupiter Fund Management saw a net outflow in Q4 following the loss of a segregated mandate and closure of its Split Capital trust.

In a trading update covering the three months to 31 December 2014, the group reported a £626m net outflow, of which £716m comprised a segregated mandate, and £219m was the Second Split investment trust, which was wound up as it reached the end of its life. Jupiter's CEO Maarten Slendebroek had previously said he expected a large mandate to redeem during 2014. Jupiter said it has taken a number of  “conscious strategic decisions which reduced AUM but were taken to benefit Jupiter's future as a focused mutual fund provider”. These include closure of small or uneconomical funds, pricing ...