Jupiter Fund Management PLC

Business and Financial Review • Apr 26, 2017

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RNS Number : 3230D

Jupiter Fund Management PLC

26 April 2017

Trading Update and Notice of Results

26 April 2017

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 31 March 2017.

HIGHLIGHTS

§ Net mutual fund inflows of £1.4bn in the quarter, with overall net inflows of £1.3bn.

§ Total AUM increased 7.4% to £43.5bn at 31 March 2017.

Maarten Slendebroek, Chief Executive, commented:

"We are pleased to report a strong start to 2017, driven by our mutual fund franchise which saw net inflows of £1.4bn.  The continued strategy to diversify our business by product, client type and geography and delivery of strong investment performance after fees across a broad range of strategies has resulted in good inflows both internationally and within the UK."

ASSETS UNDER MANAGEMENT AND FLOWS

		31 December  2016 £m	Q1 net flows                          £m	Market/FX movement £m	31 March  2017 £m
	Mutual funds	35,216	1,402	1,368	37,986
	Segregated mandates	4,244	(93)	243	4,394
	Investment trusts	1,083	(3)	73	1,153
	Total	40,543	1,306	1,684	43,533

Total AUM increased across all channels during the quarter as a result of positive investment returns and healthy mutual funds inflows.

Net mutual fund inflows were £1.4bn during the first quarter, with significant flows into our Fixed Income, Absolute Return, Multi Asset and Global Emerging Market strategies. Inflows have been particularly strong in Asia and continental Europe, including positive contributions from our recently opened offices in Italy and Spain. Healthy net inflows, investment performance and currency effects led to mutual fund AUM increasing to £38.0bn as at 31 March 2017, an increase of 7.9% in the quarter.

NOTICE OF RESULTS

Jupiter will be issuing results for the period ended 30 June 2017 on 26 July 2017 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.

SUMMARY & OUTLOOK

Net inflows, underpinned by the delivery of strong investment outperformance after all fees to investors, affirm the confidence we have in our diversification strategy offering potential for further long-term growth.  We continue to invest in maintaining our scalable operating model, leaving us well placed to deliver growth and to continue sharing the rewards of that growth with our stakeholders.

For further information please contact:			Investors	Media
	Jupiter		Alex Sargent/Investor Relations +44 (0)20 3817 1534/1065	Alicia Wyllie +44 (0)20 3817 1638
	FTI Consulting		Tom Blackwell +44 (0)20 3727 1051	Andrew Walton +44 (0)20 3727 1514

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 2016 £m	Q2 2016 £m	Q3 2016 £m	Q4 2016 £m	Q1 2017 £m	Q2 2017 £m	Q3 2017 £m	Q4 2017 £m
	Total
	Opening AUM	35,674	36,181	37,023	40,356	40,543
	Gross inflows	2,798	2,290	2,911	2,603	3,981
	Gross outflows	(2,075)	(2,382)	(2,122)	(2,976)	(2,675)
	Net flows	723	(92)	789	(373)	1,306
	Market / FX movements	(216)	934	2,544	560	1,684
	Closing AUM	36,181	37,023	40,356	40,543	43,533
	Mutual funds
	Opening AUM	31,170	31,418	32,268	35,153	35,216
	Gross inflows	2,473	2,241	2,769	2,527	3,864
	Gross outflows	(2,030)	(2,237)	(2,002)	(2,882)	(2,462)
	Net flows	443	4	767	(355)	1,402
	Market / FX movements	(195)	846	2,118	418	1,368
	Closing AUM	31,418	32,268	35,153	35,216	37,986
	Segregated mandates
	Opening AUM	3,527	3,775	3,754	4,136	4,244
	Gross inflows	314	48	142	76	117
	Gross outflows	(40)	(133)	(111)	(89)	(210)
	Net flows	274	(85)	31	(13)	(93)
	Market / FX movements	(26)	64	351	121	243
	Closing AUM	3,775	3,754	4,136	4,244	4,394
	Investment trusts
	Opening AUM	977	988	1,001	1,067	1,083
	Gross inflows	11	1	-	-	-
	Gross outflows	(5)	(12)	(9)	(5)	(3)
	Net flows	6	(11)	(9)	(5)	(3)
	Market / FX movements	5	24	75	21	73
	Closing AUM	988	1,001	1,067	1,083	1,153

This information is provided by RNS

The company news service from the London Stock Exchange

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