Jupiter shakes off £4bn outflows as Merian deal drives AuM to record high

Jupiter Fund Management saw its second consecutive year of net outflows in 2020, but the acquisition of Merian Global Investors in July helped push total AUM to a record high of £58.7bn. The firm's full-year results, published today (26 February), shows that £16.6bn of Merian assets offset net outflows of £4bn for year as "market volatility weighed heavily on investor sentiment", following net outflows of £4.5bn in the previous year. Jupiter's profit before tax increased by 10% to £179m in the 12 months to 31 December, as statutory profits before tax decreased by 12% to £132.6m as a r...