Jupiter suffers higher than anticipated outflows of £2.2bn

Weaker than anticipated retail sentiment

Jupiter has been hit by £2.2bn in outflows during the 2023 financial year, driven by "weaker than anticipated retail sentiment".

The firm suffered £4bn outflows from its retail, wholesale and investment trusts division throughout the year, while its institutional arm attracted £1.8bn inflows over the period, according to a trading update published this morning (9 January). Jupiter said the "weaker than anticipated" retail sentiment in October and November 2023 led to an "incrementally more negative flow outcome than we had anticipated". However, despite the high level of outflows, its assets under management grew last year from £50.2bn at the end of 2022 to £52.2bn as of 31 December 2023. JO Hambro's Savvide...