July 27, 2018 / 6:12 AM / 4 months ago

Fund manager Jupiter sees 2.3 bln stg in H1 outflows

LONDON, July 27 (Reuters) - Asset manager Jupiter posted first-half net outflows of 2.3 billion pounds ($3.01 billion) on Friday and said the operating environment was challenging.

The outflows were larger than the 1.9 billion pounds forecast in a company-supplied poll.

Assets under management fell 4 percent to 48.2 billion pounds in the six months to June 30, Jupiter said in a statement, though this was above analysts’ forecast of 47.8 billion pounds.

Profit before tax rose 3 percent to 96.5 million pounds, and Jupiter’s interim dividend per share increased by 16 percent to 7.9 pence per share, above a forecast 7 pence. ($1 = 0.7632 pounds) (Reporting by Carolyn Cohn, editing by Maiya Keidan)

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