Jupiter Fund Management PLC (LON:JUP) saw net outflows of £1bn in the past quarter as outflows from its newly acquired Merian Global Investors arm were only partly offset by inflows to its own Jupiter-branded funds.
The operational integration of Merian was completed during by the end of the quarter, the FTSE 250-listed group said, with the deal concluded at the start of the quarter, which added £16.6bn of assets under management (AUM).
Jupiter's overall AUM at the end of September 2020 was £55.7bn, up from £39.2bn at the end of June, with an £0.8bn contribution in the quarter from positive market returns
Jupiter-branded products saw £130mln of positive net change over the quarter, while Merian’s £1bn of outflows were offset by £726mln of positive market returns.
Among the net mutual fund outflows within the Merian products, £0.2bn was from the Global Equity Absolute Return fund, £0.4bn from the Systematic strategy and £0.1bn from funds where there was a change of fund manager relating to the acquisition.