Jupiter Fund Management PLC

Earnings Release • Apr 20, 2021

National Storage Mechanism | Additional information

RNS Number : 9553V

Jupiter Fund Management PLC

20 April 2021

Trading Update and Notice of Results

20 April 2021

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 31 March 2021.

HIGHLIGHTS

·      Assets under management (AUM) closed the period at £58.8bn, an increase of £0.1bn from 31 December 2020

·      There were net outflows in the period of £0.8bn. Positive net inflows from fixed income strategies, through NZS capital and a capital raise by the Chrysalis Investment Trust were offset by continuing lower client demand for UK and European equity strategies.

Mutual funds saw total net outflows of £848m, driven by continued lower client demand for UK and European-focused equity strategies. These were partially offset by positive flows into Dynamic and Strategic Bond and the Gold & Silver strategy, as well as a return to positive flows for the Global Equity Absolute Return fund.

Investment Trusts generated total net inflows of £221m, led by a capital raise by the Chrysalis Investment Trust. In segregated mandates, NZS Capital also continued to see strong client demand, generating more than £250m of net inflows. However, this was offset by redemptions in other strategies, primarily UK equities, resulting in total net outflows of £149m.

	£m		AUM at 31 December 2020	Q1 2021 net flows	Q1 2021 market returns	AUM at 31 March 2021
	Mutual funds		49,871	(848)	287	49,310
	Segregated mandates		7,970	(149)	511	8,332
	Investment trusts		892	221	39	1,152
	Total		58,733	(776)	837	58,794

NOTICE OF RESULTS

Jupiter will be issuing Interim results for the period to 30 June 2021 on 30 July 2021 and will host an analyst presentation to discuss the results. The format of the results presentation will be determined based on the UK's government applicable advice and more details will be provided in due course.

For further information please contact:
Jupiter	Alex James (Investors) +44 (0)20 3817 1636	Despina Constantinides (Media) +44 (0)20 3817 1278
Powerscourt	Justin Griffiths +44 (0)20 7250 1446	Gilly Lock +44 (0)20 7250 1446

LEI Number: 5493003DJ1G01IMQ7S28

Forward-looking statements

This announcement contains forward-looking statements with respect to the financial condition, results of operations and businesses of the Group. Such statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by forward-looking statements and forecasts. Forward-looking statements and forecasts are based on the Directors' current view and information known to them at the date of this announcement. The Directors do not make any undertaking to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Nothing in this announcement should be construed as a profit forecast.

Historic quarterly net flows and AUM

	Flows and AUM by quarter
		Q1 2020 £m	Q2 2020 £m	Q3 2020 £m	Q4 2020 £m	Q1 2021 £m	Q2 2021 £m	Q3 2021 £m	Q4 2021 £m
	Total
	Opening AUM	42,831	34,985	39,208	55,694	58,733
	Acquisition	-	-	16,639	-	-
	Gross inflows	4,065	3,075	4,422	4,903	5,380
	Gross outflows	(6,383)	(2,770)	(5,375)	(5,909)	(6,156)
	Net flows	(2,318)	305	(953)	(1,006)	(776)
	Market returns	(5,528)	3,918	800	4,045	837
	Closing AUM	34,985	39,208	55,694	58,733	58,794
	Mutual funds
	Opening AUM	37,692	30,671	34,264	48,258	49,871
	Acquisition	-	-	13,970	-	-
	Gross inflows	3,353	2,823	4,057	4,048	4,524
	Gross outflows	(6,244)	(2,603)	(4,803)	(5,380)	(5,372)
	Net flows	(2,891)	220	(746)	(1,332)	(848)
	Market returns	(4,130)	3,373	770	2,945	287
	Closing AUM	30,671	34,264	48,258	49,871	49,310
	Segregated mandates
	Opening AUM	4,811	4,084	4,668	6,784	7,970
	Acquisition	-	-	2,375	-	-
	Gross inflows	712	252	365	782	596
	Gross outflows	(137)	(164)	(562)	(527)	(745)
	Net flows	575	88	(197)	255	(149)
	Market returns	(1,302)	496	(62)	931	511
	Closing AUM	4,084	4,668	6,784	7,970	8,332
	Investment trusts
	Opening AUM	328	230	276	652	892
	Acquisition	-	-	294	-	-
	Gross inflows	0	0	0	73	260
	Gross outflows	(2)	(3)	(10)	(2)	(39)
	Net flows	(2)	(3)	(10)	71	221
	Market returns	(96)	49	92	169	39
	Closing AUM	230	276	652	892	1,152

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