Investors withdrew £1bn from Merian Global Investors funds in the third quarter of 2020 following the firm's acquisition by Jupiter Fund Managers, with further outflows expected in the final quarter of the year.
A Jupiter Group trading update published this morning (16 October) revealed the acquisition of Merian had grown assets under management by £16.5bn to £55.7bn, but fund manager changes related to the acquisition had forced some investors to exit. Net mutual fund outflows within Merian branded products included £200m from the firm's Global Equity Absolute Return fund, £400m from the Systematic strategy and £100m from funds "where there was a change of fund manager relating to the acquisition". In addition, Jupiter said it had been notified of further outflows of £300m from Merian brand...
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