JUPITER Fund Management boss Edward Bonham Carter yesterday said equity markets would continue to wobble as investors prepared for a pullback in American quantitative easing (QE).
The FTSE 250 listed stock picker, which attracted £426m more from investors in the three months to June, said signals from US Federal Reserve chairman Ben Bernanke about reducing quantitative easing – known as tapering – would remain a plague on market volatility.
“He’s trying to finesse a tricky thing about how to taper the tapering,” Bonham-Carter told
City A.M. “It’s not surprising the patient gets a wobble when the methadone is about to be withdrawn, and there will be more of that in future I think.”
Retail fund flows fell back in June on Bernanke’s comments after hitting an all-time high in April and May according to industry statistics.
Jupiter upped its interim dividend by 40 per cent to 3.5p yesterday.