- Jupiter Fund Management said Thursday the swing lower in equity markets wiped billions from assets under management during the fourth quarter. For the three months to 31 December, assets under management fell to £42.7bn, down from £47.72bn at the September end.

The market decline wiped off £3.5bn of net assets, while the company's fixed income strategy, principally in Continental Europe and the UK, saw the bulk of net outflows of £1.7bn, Jupiter said.

Segregated mandates saw a £0.2bn net inflow during the quarter from clients adding to their positions in existing portfolios, the fund manager said.

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