UK-based asset manager Jupiter Fund Management saw outflows of £355 million (€409 million) in the fourth quarter (Q4) of last year.
The outflows were driven by institutional clients rebalancing their holdings in the firm’s Merlin and European strategies, Jupiter said.
Despite this, Maarten Slendebroek, Jupiter’s chief executive, viewed 2016 as “positive”.
The firm’s unaudited results show that last year the firm saw inflows of £859 million, increasing its assets under management (AUM) to £40.5 billion from £35.7 billion the previous year.
The 13% increase in AUM was down to net inflows, investment performance and currency effects.
Jupiter said that market gains in Q4 marginally offset outflows as global indices ended at or near record highs.
Looking to this year, the firm expects the current state of global political and economic uncertainty to continue to affect investor sentiment.
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