Jupiter has delivered a £0.8bn net inflow in its Retail/Wholesale franchise, after a protracted period of net outflows, although it is only a modest £0.3bn performance. AuM grew by 7% qoq with £0.3bn group net inflow (after £0.5bn institutional redemptions) and £3.0bn performance. We are encouraged but need to see further evidence that this is an inflection point rather than a one off. We remain at HOLD after recent strong share price performance.
