Jupiter sees £4.6bn outflows in CEO Slendebroek's 'challenging' last year

In the 12 months to 31 December 2018, the group saw AUM fall by 15% from £50.2bn to £42.7bn, which included net outflows of £4.6bn. Profit before tax was also down £13.7m to £179.2m, which the group said reflected the the first full year of reporting without the effect of box profits and the addition of research costs. Net management fees increased marginally from £392.4m to £395.7m, despite the AUM drop, while underlying earnings per share decreased by 2.5p to 31.7p. Out of the £4.6bn of outflows, £4.4bn of this came from the €6.1bn Dynamic Bond fund, the SICAV version of the £3.6...