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Fund manager Jupiter sees first-quarter net outflows of $1.9 billion

British fund manager Jupiter suffered 1.3 billion pounds ($1.86 billion) in net outflows in the first quarter, hurt by withdrawals from fixed income portfolios, it said on Wednesday.

The firm’s assets under management fell 6.6 percent to 46.9 billion pounds at the end of the quarter, hit also by negative market returns, Jupiter said in a trading statement.

The firm said it was targeting more diversification by product, client and country as the driver for growth.

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