Jupiter Fund Management PLC

Earnings Release • Oct 15, 2021

National Storage Mechanism | Additional information

RNS Number : 1611P

Jupiter Fund Management PLC

15 October 2021

Trading Update and Notice of Results

15 October 2021

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 30 September 2021.

Highlights

·      Assets under management (AUM) closed the period at £60.7bn, an increase of £0.4bn from 30 June 2021 and of £2.0bn from 31 December 2020.

·      Positive market movements of £1.0bn were partially offset by £0.6bn of net outflows, primarily in the first month of the quarter.

·      Positive net inflows across Fixed Income and in a number of key growth funds, including Global Sustainable Equities, were offset by ongoing weaker demand for UK and European equity products as well as outflows from Systematic strategies.

Net outflows of £569m were primarily driven by net redemptions from mutual funds and continued weaker client demand for UK and European equity strategies. We also saw outflows from our Merlin range and our Systematic strategies, predominantly the North American equity fund and a reversal of flows into the Global Equity Absolute Return fund.

These outflows were partially offset by inflows of over £300m across our Fixed Income strategies. Global Sustainable Equities continued to perform well, attracting net inflows of almost £100m and reaching AUM of over £200m. A number of other funds which we previously identified as future growth drivers also saw positive net inflows in the quarter, including Gold & Silver and Global Emerging Markets Short Duration Bond.

	£m		AUM at 30 June 2021	Net flows	Market returns	AUM at 30 September 2021
	Mutual funds		50,802	(475)	859	51,186
	Segregated mandates		8,318	(94)	90	8,314
	Investment trusts		1,202	-	34	1,236
	Total		60,322	(569)	983	60,736

Notice of results

Jupiter will be issuing full year results for the year to 31 December 2021 on 25 February 2022 and will host an analyst presentation to discuss the results. The format of the results presentation will be determined closer to the time based on the latest health and safety guidance and further 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 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 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	58,794	60,322
	Acquisition	-	-	16,639	-	-	-	-
	Gross inflows	4,065	3,075	4,422	4,903	5,380	4,201	3,431
	Gross outflows	(6,383)	(2,770)	(5,375)	(5,909)	(6,156)	(5,694)	(4,000)
	Net flows	(2,318)	305	(953)	(1,006)	(776)	(1,493)	(569)
	Market returns	(5,528)	3,918	800	4,045	837	3,021	983
	Closing AUM	34,985	39,208	55,694	58,733	58,794	60,322	60,736
	Mutual funds
	Opening AUM	37,692	30,671	34,264	48,258	49,871	49,310	50,802
	Acquisition	-	-	13,970	-	-	-	-
	Gross inflows	3,353	2,823	4,057	4,048	4,524	3,881	3,214
	Gross outflows	(6,244)	(2,603)	(4,803)	(5,380)	(5,372)	(4,736)	(3,689)
	Net flows	(2,891)	220	(746)	(1,332)	(848)	(855)	(475)
	Market returns	(4,130)	3,373	770	2,945	287	2,347	859
	Closing AUM	30,671	34,264	48,258	49,871	49,310	50,802	51,186
	Segregated mandates
	Opening AUM	4,811	4,084	4,668	6,784	7,970	8,332	8,318
	Acquisition	-	-	2,375	-	-	-	-
	Gross inflows	712	252	365	782	596	317	217
	Gross outflows	(137)	(164)	(562)	(527)	(745)	(754)	(311)
	Net flows	575	88	(197)	255	(149)	(437)	(94)
	Market returns	(1,302)	496	(62)	931	511	423	90
	Closing AUM	4,084	4,668	6,784	7,970	8,332	8,318	8,314
	Investment trusts
	Opening AUM	328	230	276	652	892	1,152	1,202
	Acquisition	-	-	294	-	-	-	-
	Gross inflows	0	0	0	73	260	3	0
	Gross outflows	(2)	(3)	(10)	(2)	(39)	(204)	0
	Net flows	(2)	(3)	(10)	71	221	(201)	0
	Market returns	(96)	49	92	169	39	251	34
	Closing AUM	230	276	652	892	1,152	1,202	1,236

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