Jupiter Fund Management PLC

Regulatory Filings • Oct 11, 2019

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RNS Number : 5474P

Jupiter Fund Management PLC

11 October 2019

Trading Update and Notice of Results

11 October 2019

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 30 September 2019.

HIGHLIGHTS

§  Net outflows in the quarter of £1.3bn.

§  AUM at 30 September 2019 of £45.1bn, a decrease of £0.8bn in the quarter.

ASSETS UNDER MANAGEMENT AND FLOWS

		30 June  2019 £m	Q3 net flows                          £m	Market/FX movement £m	30 September  2019 £m
	Mutual funds	38,983	(956)	434	38,461
	Segregated mandates	5,568	(348)	46	5,266
	Investment trusts	1,357	(11)	16	1,362
	Total	45,908	(1,315)	496	45,089

Net mutual fund outflows were £1.0bn during the quarter, of which £1.1bn outflows were from our European Growth strategy, principally within the UK and Continental Europe. Since our announcement on 1 July 2019, Alexander Darwall has pursued his intention to set up an independent firm and now intends to leave Jupiter in mid-November. The transfer of management responsibilities to Alexander's successors on the Jupiter European Fund and Jupiter European Growth SICAV took place on 1 October 2019.

Segregated mandates saw £0.3bn net outflows during the quarter. Within this, two clients withdrew assets totalling £0.7bn and two new mandates were opened in the period totalling £0.4bn.

The Flexible Macro (SICAV) and Global High Yield Short Duration Bond (SICAV) funds were launched during the quarter, adding to our Multi-Asset and Fixed Income strategies respectively. 

NOTICE OF RESULTS

Jupiter will be issuing results for the year ending 31 December 2019 on 28 February 2020 and will host an analyst presentation to discuss the results at 9:00am. The presentation will be held at The Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ.

For further information please contact:			Investors	Media
	Jupiter		Alex Sargent/Investor Relations +44 (0)20 3817 1534/1065	Despina Constantinides/Corporate Communications +44 (0)20 3817 1196/1278
	Powerscourt		Justin Griffiths +44 (0)20 7324 0496

LEI Number: 5493003DJ1G01IMQ7S28

Forward-looking statements

This announcement contains forward-looking statements with respect to the financial condition, results and business of the Group. By their nature, forward-looking statements involve risk and uncertainty because they relate to events, and depend on circumstances, that will occur in the future. Jupiter's actual results may differ materially from the results expressed or implied in these forward-looking statements. Nothing in this announcement should be construed as a profit forecast.

Historic flow and AUM data by quarter

	Flows and AUM by quarter
		Q1 2018 £m	Q2 2018 £m	Q3 2018 £m	Q4 2018 £m	Q1 2019 £m	Q2 2019 £m	Q3 2019 £m
	Total
	Opening AUM	50,180	46,853	48,235	47,721	42,673	44,061	45,908
	Gross inflows	3,224	3,154	2,760	2,784	3,259	3,280	4,014
	Gross outflows	(4,474)	(4,171)	(3,593)	(4,310)	(3,741)	(3,883)	(5,329)
	Net flows	(1,250)	(1,017)	(833)	(1,526)	(482)	(603)	(1,315)
	Market / FX movements	(2,077)	2,399	319	(3,522)	1,870	2,450	496
	Closing AUM	46,853	48,235	47,721	42,673	44,061	45,908	45,089
	Mutual funds
	Opening AUM	43,745	41,072	41,998	41,473	36,940	37,473	38,983
	Gross inflows	3,093	3,051	2,600	2,379	2,697	3,034	3,017
	Gross outflows	(4,022)	(4,046)	(3,373)	(4,119)	(3,688)	(3,608)	(3,973)
	Net flows	(929)	(995)	(773)	(1,740)	(991)	(574)	(956)
	Market / FX movements	(1,744)	1,921	248	(2,793)	1,524	2,084	434
	Closing AUM	41,072	41,998	41,473	36,940	37,473	38,983	38,461
	Segregated mandates
	Opening AUM	5,208	4,614	4,961	4,901	4,577	5,348	5,568
	Gross inflows	129	100	155	404	561	246	996
	Gross outflows	(435)	(117)	(217)	(186)	(48)	(269)	(1,344)
	Net flows	(306)	(17)	(62)	218	513	(23)	(348)
	Market / FX movements	(288)	364	2	(542)	258	243	46
	Closing AUM	4,614	4,961	4,901	4,577	5,348	5,568	5,266
	Investment trusts
	Opening AUM	1,227	1,167	1,276	1,347	1,156	1,240	1,357
	Gross inflows	2	3	5	1	1	0	1
	Gross outflows	(17)	(8)	(3)	(5)	(5)	(6)	(12)
	Net flows	(15)	(5)	2	(4)	(4)	(6)	(11)
	Market / FX movements	(45)	114	69	(187)	88	123	16
	Closing AUM	1,167	1,276	1,347	1,156	1,240	1,357	1,362

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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