Jupiter Fund Management is trying to march into the wind. A bias towards UK equity strategies, which have been spurned by investors, has hindered efforts to plug the stream of cash running out of the doors of the investment house.
The departure of Richard Buxton, the veteran stockpicker, which was announced last week, was the latest shake-up at the fund management group. Over the past five years, fund flows have been out in the black in only two quarters. In the first three months of this year, net outflows came to about £900 million, after a brief recovery of £700 million of net inflows in the wake of the mini-budget in the final quarter of 2022.
It’s little surprise that investors’ expectations have diminished.
