LONDON Jan 12 Jupiter Fund Management
said on Thursday clients pulled 373 million pounds ($456.44
million) from its funds during the fourth quarter, with
withdrawals largely by institutional investors exiting its
European and multi-manager strategies.
Over the 12 months to end-December, though, net mutual fund
inflows were 859 million pounds, it added, taking year-end
assets under management to 40.5 billion pounds, from 35.7
billion pounds at the end of 2015.
Jupiter said the effects of wider market uncertainty on the
firm's performance during the year had been muted, although it
expected global political and economic uncertainty to continue
to affect investor sentiment in 2017.
Jupiter said market gains during the fourth-quarter, with
global stock markets at or near record highs, had marginally
offset the impact of client withdrawals.
Jupiter also said it managed to attract fresh money into its
absolute return, fixed income and emerging markets strategies
during the period.
($1 = 0.8172 pounds)
(Reporting by Simon Jessop; Editing by Rachel Armstrong)