UK asset managers warn of tough times as investors pull or divert cash

Firms such as Jupiter and Schroders suffer net outflows as inflation, economic uncertainty and Ukraine war weigh on investors

Asset managers have said they are navigating tough investment conditions in the UK, as economic turmoil reduced the value of their portfolios and persuaded customers to pull and divert their cash.

London-based firms including Jupiter, Schroders, and St James's Place issued trading updates on Thursday, which laid bare the challenges facing fund managers amid soaring inflation and global uncertainty, including the effects of the war in Ukraine.