Outflows Rock Fund Managers as the $1 Trillion Dream Fades
- Jupiter, DWS among European firms suffering redemptions
- Rising interest rates, emerging markets slump fuel sales
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Asset managers across Europe have long had their work cut out, with margins being squeezed and regulations pushing up costs. Now add this to their headaches: client redemptions.
Among the victims are Jupiter Fund Management, which suffered outflows in a large bond fund, and DWS Group, which warned last Wednesday it probably won’t reach its new money target for the year after two straight quarters of net redemptions. Firms that managed to pull in money, such as Schroders Plc, fell short of expectations.