Jupiter Fund Management PLC

Quarterly Report • Oct 17, 2013

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RNS Number : 7003Q

Jupiter Fund Management PLC

17 October 2013

Jupiter Fund Management plc

Q3 Interim Management Statment

Interim Management Statement

17 October 2013

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its interim management statement in respect of the three months to 30 September 2013.

HIGHLIGHTS

§ Assets under management ("AUM") increased to £29.9 billion in the three months to 30 September 2013.

§ Net mutual fund inflows of £278 million in the three months to 30 September 2013.

§ Cumulative net mutual fund inflows of £704 million in the nine months to 30 September 2013.

Edward Bonham Carter, Chief Executive, commented:

"Our broadened distribution presence, diverse product range and strong investment performance enabled us to deliver net mutual fund inflows of £278 million in the quarter. These steady inflows helped Jupiter's AUM increase to £29.9 billion at 30 September 2013."

ASSETS UNDER MANAGEMENT AND FLOWS

		30 June        2013 £m	Q3 net flows £m	Market movement £m	30 September 2013 £m
	Mutual funds	22,730	278	328	23,336
	Segregated mandates	3,526	(28)	137	3,635
	Private clients	2,130	15	79	2,224
	Investment trusts	659	6	29	694
	Total	29,045	271	573	29,889

Jupiter delivered net mutual fund flows of £278 million during the third quarter, with positive contributions from both our UK and international channels. Inflows were spread across fixed income funds, such as Strategic Bond and Dynamic Bond, together with top-performing equity funds, such as UK Special Situations and European. Together with improved market levels, this led to mutual funds AUM increasing to £23.3 billion at 30 September 2013.

Overall net inflows for the quarter were £271 million, taking cumulative net inflows for the year to date to £689 million.

OUTLOOK

Consistent levels of client activity and improving market sentiment has affirmed our belief in the long-term growth prospects for the savings market. As we build out relationships with key distributors on a global basis, we are confident we can continue to deliver profitable growth at attractive margins and, within our sustainable balance sheet structure, to share the rewards of this growth with our investors.

For further information please contact:			Investors		Media
	Jupiter		Philip Johnson +44 (0)20 7314 4807		Alicia Wyllie +44 (0)20 7314 5573
	FTI Consulting		Laura Ewart +44 (0)20 7269 7243		Andrew Walton +44 (0)20 7269 7204

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 2012 £m	Q2 2012 £m	Q3 2012 £m	Q4 2012 £m	Q1 2013 £m	Q2 2013 £m	Q3 2013 £m	Q4 2013 £m
	Total
	Opening AUM	22,807	24,177	23,371	24,999	26,268	29,138	29,045
	Gross inflows	1,207	1,359	1,635	1,820	1,726	1,729	1,618
	Gross outflows	(1,320)	(1,548)	(1,056)	(1,132)	(1,517)	(1,520)	(1,347)
	Net Flows	(113)	(189)	579	688	209	209	271
	Market / FX movements	1,483	(617)	1,049	581	2,661	(302)	573
	Closing AUM	24,177	23,371	24,999	26,268	29,138	29,045	29,889
	Mutual funds
	Opening AUM	17,219	18,351	18,054	19,655	20,572	22,885	22,730
	Gross inflows	1,122	1,105	1,586	1,482	1,572	1,493	1,535
	Gross outflows	(1,067)	(895)	(791)	(992)	(1,325)	(1,314)	(1,257)
	Net Flows	55	210	795	490	247	179	278
	Market / FX movements	1,077	(507)	806	427	2,066	(334)	328
	Closing AUM	18,351	18,054	19,655	20,572	22,885	22,730	23,336
	Segregated mandates
	Opening AUM	3,338	3,493	2,927	2,905	3,207	3,531	3,526
	Gross inflows	42	116	16	285	93	67	24
	Gross outflows	(144)	(618)	(186)	(79)	(149)	(167)	(52)
	Net Flows	(102)	(502)	(170)	206	(56)	(100)	(28)
	Market / FX movements	257	(64)	148	96	380	95	137
	Closing AUM	3,493	2,927	2,905	3,207	3,531	3,526	3,635
	Private clients
	Opening AUM	1,731	1,757	1,824	1,852	1,888	2,059	2,130
	Gross inflows	43	138	33	53	51	160	50
	Gross outflows	(109)	(35)	(79)	(61)	(42)	(39)	(35)
	Net Flows	(66)	103	(46)	(8)	9	121	15
	Market / FX movements	92	(36)	74	44	162	(50)	79
	Closing AUM	1,757	1,824	1,852	1,888	2,059	2,130	2,224
	Investment trusts
	Opening AUM	519	576	566	587	601	663	659
	Gross inflows	0	0	0	0	10	9	9
	Gross outflows	0	0	0	0	(1)	0	(3)
	Net Flows	0	0	0	0	9	9	6
	Market / FX movements	57	(10)	21	14	53	(13)	29
	Closing AUM	576	566	587	601	663	659	694

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