Jupiter takes hit as Merian clients pull £1bn

Jupiter Fund Management suffered £1bn in net outflows in Q3, as the firm was hit by investor exists following its acquisition of Merian Global. Jupiter told shareholders that its total funds under management stood at £55.7bn at the end of September, boosted by the arrival of £16.6bn as a result of the deal to buy Merian in February. Of the outflows from Merian branded products, £400m came from Merian's "systematic strategy". Jupiter said that approximately £100m could be linked to manag...