British fund manager Jupiter Fund Management has seen its assets under management drop as geopolitical and inflationary pressures dampened client demand.
In a trading update for the three months to 31 March, the firm said its assets under management closed the period at £55.3bn.
This marked a £5.2bn drop from 31 December, fuelled by negative market returns of £3.6bn and net outflows of £1.6bn.
The London-listed company said “worsening geopolitical events and inflationary concerns weighed upon client demand throughout the quarter,” especially in its retail and wholesale arm.
The retail and wholesale channel saw total net outflows of £1.9bn with a continuation of lower demand for UK and European-focused equity products. Net inflows of more than £0.2bn from institutional clients partially offset the aforementioned outflows.