UK's Jupiter Fund Management dips as outflows rise

** Shares of British asset manager Jupiter Fund Management JUP down 5.8% to a near three-month low of 76.68 pence

** Co says Q1 outflows amounted to 1.6 bln pounds ($1.98 bln), comprising of 1.1 bln pounds in outflows from the Value team, headed by outgoing star manager Ben Whitmore

** Barclays says the outflows were materially worse than its expectations of 600 mln pounds

** "We expect the current weak flow momentum will continue at Jupiter..," says Barclays

** JUP's quarterly assets under management tick up to 52.6 bln pounds, from 52.2 bln pounds as at Dec. 31, thanks to improved market returns

** Stock down ~18% YTD, including session's losses

($1 = 0.8063 pounds)