Andrew Formica, chief executive, said the client outflows were “disappointing” but that overall performance was resilientClient defections worsened between the first and second quarters at Jupiter Asset Management. The FTSE 250 asset management group reported net outflows of £1.5 billion in the three months to June, almost double the £800 million loss of business in the March quarter. SponsoredAndrew Formica, chief executive, said the outflows were “disappointing”, but that the overall result was resilient for the half year. Jupiter was founded in 1986 by the fund management entrepreneur John Duffield. After a spell owned by Commerzbank, it was bought out by its management in 2007 and was floated

Source: The Times July 30, 2021 12:33 UTC