Jupiter suffers net outflows of £2.3bn in H1 due to fixed income redemptions

AUM falls 4%

Jupiter Fund Management has reported a 4% drop in AUM to £48.2bn over the six months to 30 June 2018, on the back of outflows from its Dynamic Bond fund and against a "more challenging operating environment".

In its results for H1 2018 released this morning, the group reported net outflows during the six months to 30 June 2018 of £2.3bn, versus inflows of £3.6bn for the same period the previous year. Mutual fund outflows of £1.9bn (H1 2017: £3.4bn inflows) were driven by redemptions from Ariel Bezalel's €7.9bn Dynamic Bond fund, "reflecting both the fund's current defensive positioning and a wider industry trend of fixed income outflows in most markets". This was a reversal from last year, when the fixed income strategy was responsible for the majority of 2017's inflows. Speaking to Inv...