Jupiter Fund Management PLC

Earnings Release • Jan 15, 2014

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RNS Number : 6544X

Jupiter Fund Management PLC

15 January 2014

	Jupiter Fund Management plc
Q4 Trading Update and Notice of Results

Trading Update and Notice of Results

15 January 2014

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 31 December 2013.

HIGHLIGHTS

§ Assets under management ("AUM") increased to £31.7 billion in the three months to 31 December 2013.

§ Net mutual fund inflows of £458 million in the three months to 31 December 2013.

§ Cumulative net mutual fund inflows of £1.2 billion in the year to 31 December 2013.

Edward Bonham Carter, Chief Executive, commented:

"Mutual fund inflows of £458 million in the fourth quarter were driven by improved client sentiment and strong delivery from our increasingly broad distribution network. This continued momentum from our mutual fund franchise helped Jupiter's AUM increase by 20 per cent. over the full year to £31.7 billion at 31 December 2013."

ASSETS UNDER MANAGEMENT AND FLOWS

		30 September 2013 £m	Q4 net flows £m	Market movement £m	31 December 2013 £m
	Mutual funds	23,336	458	966	24,760
	Segregated mandates	3,635	55	221	3,911
	Private clients	2,224	(10)	52	2,266
	Investment trusts	694	7	21	722
	Total	29,889	510	1,260	31,659

Jupiter delivered improved net mutual fund flows of £458 million during the fourth quarter, with continued inflows in the UK supported by our expanding international presence. Inflows were spread across fixed income funds, such as Strategic Bond and Dynamic Bond, and top-performing equity funds, such as UK Special Situations and our European range, with international flows lifting our SICAV AUM to £3 billion at year end. Together with improved market levels, this led to mutual funds AUM increasing to £24.8 billion at 31 December 2013.

Overall net inflows for the quarter were £510 million, taking cumulative net inflows for the full year to £1.2 billion.

OUTLOOK

We continue to believe in the long-term growth prospects for the savings market. As we extend our 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, share the rewards of this growth with our investors.

NOTICE OF RESULTS

Jupiter will be issuing its audited results for the year ended 31 December 2013 on 27 February 2014 and will host an analyst presentation to discuss the results at 9:00am. The presentation will be held at FTI Consulting, Holborn Gate, 26 Southampton Buildings, London, WC2A 1PB. For further details of announcement dates during 2014, please see http://www.jupiteronline.com/Jupiter-Fund-Management-plc/Shareholder-info/Financial-calendar.

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

Q4 Trading Update and Notice of Results

	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	29,889
	Gross inflows	1,207	1,359	1,635	1,820	1,726	1,729	1,618	1,782
	Gross outflows	(1,320)	(1,548)	(1,056)	(1,132)	(1,517)	(1,520)	(1,347)	(1,272)
	Net Flows	(113)	(189)	579	688	209	209	271	510
	Market / FX movements	1,483	(617)	1,049	581	2,661	(302)	573	1,260
	Closing AUM	24,177	23,371	24,999	26,268	29,138	29,045	29,889	31,659
	Mutual funds
	Opening AUM	17,219	18,351	18,054	19,655	20,572	22,885	22,730	23,336
	Gross inflows	1,122	1,105	1,586	1,482	1,572	1,493	1,535	1,627
	Gross outflows	(1,067)	(895)	(791)	(992)	(1,325)	(1,314)	(1,257)	(1,169)
	Net Flows	55	210	795	490	247	179	278	458
	Market / FX movements	1,077	(507)	806	427	2,066	(334)	328	966
	Closing AUM	18,351	18,054	19,655	20,572	22,885	22,730	23,336	24,760
	Segregated mandates
	Opening AUM	3,338	3,493	2,927	2,905	3,207	3,531	3,526	3,635
	Gross inflows	42	116	16	285	93	67	24	95
	Gross outflows	(144)	(618)	(186)	(79)	(149)	(167)	(52)	(40)
	Net Flows	(102)	(502)	(170)	206	(56)	(100)	(28)	55
	Market / FX movements	257	(64)	148	96	380	95	137	221
	Closing AUM	3,493	2,927	2,905	3,207	3,531	3,526	3,635	3,911
	Private clients
	Opening AUM	1,731	1,757	1,824	1,852	1,888	2,059	2,130	2,224
	Gross inflows	43	138	33	53	51	160	50	50
	Gross outflows	(109)	(35)	(79)	(61)	(42)	(39)	(35)	(60)
	Net Flows	(66)	103	(46)	(8)	9	121	15	(10)
	Market / FX movements	92	(36)	74	44	162	(50)	79	52
	Closing AUM	1,757	1,824	1,852	1,888	2,059	2,130	2,224	2,266
	Investment trusts
	Opening AUM	519	576	566	587	601	663	659	694
	Gross inflows	0	0	0	0	10	9	9	10
	Gross outflows	0	0	0	0	(1)	0	(3)	(3)
	Net Flows	0	0	0	0	9	9	6	7
	Market / FX movements	57	(10)	21	14	53	(13)	29	21
	Closing AUM	576	566	587	601	663	659	694	722

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