Jupiter Fund Management PLC

Earnings Release • Jan 10, 2019

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RNS Number : 6772M

Jupiter Fund Management PLC

10 January 2019

Jupiter Fund Management plc

Trading Update and Notice of Results

10 January 2019

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 31 December 2018.

HIGHLIGHTS

§  Net outflows in the quarter of £1.5bn.

§  AUM at 31 December 2018 of £42.7bn, a reduction of £5.0bn in the quarter of which £3.5bn was driven by market decline.

ASSETS UNDER MANAGEMENT AND FLOWS

		30 September  2018 £m	Q4 net flows                          £m	Market/FX movement £m	31 December  2018 £m
	Mutual funds	41,473	(1,740)	(2,793)	36,940
	Segregated mandates	4,901	218	(542)	4,577
	Investment trusts	1,347	(4)	(187)	1,156
	Total	47,721	(1,526)	(3,522)	42,673

Net mutual fund outflows were £1.7bn during the quarter, £1.3bn of which were from our Fixed Income strategy, principally in Continental Europe and the UK.

Segregated mandates saw a £0.2bn net inflow during the quarter from clients adding to their positions in existing portfolios.

The US Equity Long Short (SICAV) Fund was launched in the quarter adding to our Liquid Alternatives offering. The US Small & Midcap Companies (UT) Fund was closed in the quarter contributing £12m to net outflows. 

NOTICE OF RESULTS

Jupiter will be issuing results for the period ended 31 December 2018 on 1 March 2019 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	Kate O'Neill/Corporate Communications +44 (0)20 3817 1196/1278
	Powerscourt		Justin Griffiths +44 (0)20 7549 0999	Matthew Attwood +44 (0)20 3328 9383

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 2017 £m	Q2 2017 £m	Q3 2017 £m	Q4 2017 £m	Q1 2018 £m	Q2 2018 £m	Q3 2018 £m	Q4 2018 £m
	Total
	Opening AUM	40,543	43,533	46,907	48,431	50,180	46,853	48,235	47,721
	Gross inflows	3,981	4,799	3,801	3,880	3,224	3,154	2,760	2,784
	Gross outflows	(2,675)	(2,540)	(2,458)	(3,310)	(4,474)	(4,171)	(3,593)	(4,310)
	Net flows	1,306	2,259	1,343	570	(1,250)	(1,017)	(833)	(1,526)
	Market / FX movements	1,684	1,115	181	1,179	(2,077)	2,399	319	(3,522)
	Closing AUM	43,533	46,907	48,431	50,180	46,853	48,235	47,721	42,673
	Mutual funds
	Opening AUM	35,216	37,986	40,930	42,319	43,745	41,072	41,998	41,473
	Gross inflows	3,864	4,410	3,656	3,624	3,093	3,051	2,600	2,379
	Gross outflows	(2,462)	(2,415)	(2,411)	(3,166)	(4,022)	(4,046)	(3,373)	(4,119)
	Net flows	1,402	1,995	1,245	458	(929)	(995)	(773)	(1,740)
	Market / FX movements	1,368	949	144	968	(1,744)	1,921	248	(2,793)
	Closing AUM	37,986	40,930	42,319	43,745	41,072	41,998	41,473	36,940
	Segregated mandates
	Opening AUM	4,244	4,394	4,708	4,896	5,208	4,614	4,961	4,901
	Gross inflows	117	308	142	231	129	100	155	404
	Gross outflows	(210)	(119)	(31)	(74)	(435)	(117)	(217)	(186)
	Net flows	(93)	189	111	157	(306)	(17)	(62)	218
	Market / FX movements	243	125	77	155	(288)	364	2	(542)
	Closing AUM	4,394	4,708	4,896	5,208	4,614	4,961	4,901	4,577
	Investment trusts
	Opening AUM	1,083	1,153	1,269	1,216	1,227	1,167	1,276	1,347
	Gross inflows	-	81	3	25	2	3	5	1
	Gross outflows	(3)	(6)	(16)	(70)	(17)	(8)	(3)	(5)
	Net flows	(3)	75	(13)	(45)	(15)	(5)	2	(4)
	Market / FX movements	73	41	(40)	56	(45)	114	69	(187)
	Closing AUM	1,153	1,269	1,216	1,227	1,167	1,276	1,347	1,156

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