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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Jupiter Fund Management Plc | LSE:JUP | London | Ordinary Share | GB00B53P2009 | ORD 2P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.80 | -1.06% | 74.80 | 74.90 | 75.20 | 76.60 | 74.60 | 75.00 | 1,746,838 | 16:35:22 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Misc Business Credit Instn | 368.8M | -12.9M | -0.0237 | -31.60 | 408.21M |
TIDMJUP
RNS Number : 5406B
Jupiter Fund Management PLC
11 January 2018
Trading Update and Notice of Results -------------------------------------
11 January 2018
Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 31 December 2017.
HIGHLIGHTS
-- Net inflows in the quarter of GBP0.6bn, resulting in a total GBP5.5bn of net inflows in the year to 31 December 2017 (2016: GBP1.0bn)
-- AUM at 31 December 2017 increased 24% in the year to GBP50.2bn (31 December 2016: GBP40.5bn)
Maarten Slendebroek, Chief Executive, commented:
"This year has been one of consistent progress at Jupiter. Continued strong investment performance has enabled us to deliver positive returns after fees for clients. The successful continuation of our strategy of diversification produced total net inflows for the year of GBP5.5bn, including GBP5.1bn of net flows into our mutual funds across a range of investment strategies. These positive flows, which are underpinned by our ability to deliver investment outperformance, have helped drive a 24% increase in AUM over the year to GBP50.2bn at 31 December 2017."
ASSETS UNDER MANAGEMENT AND FLOWS
30 Sept Market/FX 31 Dec 2017 Q4 net flows movement 2017 GBPm GBPm GBPm GBPm ==================== ======= ===================== ============== ====== Mutual funds 42,319 458 968 43,745 ==================== ======= ===================== ============== ====== Segregated mandates 4,896 157 155 5,208 ==================== ======= ===================== ============== ====== Investment trusts 1,216 (45) 56 1,227 ==================== ======= ===================== ============== ====== Total 48,431 570 1,179 50,180 ==================== ======= ===================== ============== ======
Total AUM increased during the quarter as a result of positive inflows and investment returns in our mutual fund and segregated mandate channels.
Net mutual fund inflows were GBP0.5bn during the fourth quarter, with inflows into our Absolute Return, Fixed Income and Multi Asset strategies partially offset by outflows in our Fund of Funds strategy. The segregated mandate channel also saw meaningful inflows during the quarter. Geographically, net inflows continued across all regions, with Continental Europe the highest contributor.
Following new fund launches in March (Global Emerging Markets Corporate Bond Fund), May (Emerging & Frontier Income Trust) and September (Global Emerging Markets Short Duration Bond Fund), the Global Levered Absolute Return Fund was launched in October, further developing our Absolute Return offering and diversifying the client base for this strategy. We also expanded our geographic reach in the quarter, with flows from clients in Thailand and Latin America.
In November the Dividend & Growth Trust was closed, resulting in net outflows from the investment trust channel, however a proportion of the clients chose to transfer into the UK Growth Trust.
SUMMARY & OUTLOOK
The strong flows for 2017, underpinned by the delivery of strong investment outperformance after all fees to investors, affirm the confidence we have in our positioning as a high conviction active asset manager. Our business model and further diversification by client type, product and geographic reach has enabled us to continue growing our asset base throughout the year.
In 2018 we aim to build on the momentum we have seen in 2017 with further business diversification alongside investment in maintaining our operating model, supported by a strong and sustainable balance sheet. This approach provides resilience to our business and leaves us well-placed to deliver positive outcomes for our clients and value for our shareholders.
NOTICE OF RESULTS
Jupiter will be issuing results for the period ended 31 December 2017 on 27 February 2018 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 Investors Media please contact: Jupiter Alex Sargent/Investor Kate O'Neill/Corporate Relations Communications +44 (0)20 3817 1534/1065 +44 (0)20 3817 1196/1278 FTI Consulting Tom Blackwell Andrew Walton +44 (0)20 3727 1051 +44 (0)20 3727 1514
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 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm =========== =============== ======= ================= ======= =============== ======= ================== ======= Total =========== =============== ======= ================= ======= =============== ======= ================== ======= Opening AUM 35,674 36,181 37,023 40,356 40,543 43,533 46,907 48,431 Gross inflows 2,798 2,290 2,911 2,603 3,981 4,799 3,801 3,880 Gross outflows (2,075) (2,382) (2,122) (2,976) (2,675) (2,540) (2,458) (3,310) Net flows 723 (92) 789 (373) 1,306 2,259 1,343 570 Market / FX movements (216) 934 2,544 560 1,684 1,115 181 1,179 Closing AUM 36,181 37,023 40,356 40,543 43,533 46,907 48,431 50,180 Mutual funds =========== =============== ======= ================= ======= =============== ======= ================== ======= Opening AUM 31,170 31,418 32,268 35,153 35,216 37,986 40,930 42,319 Gross inflows 2,473 2,241 2,769 2,527 3,864 4,410 3,656 3,624 Gross outflows (2,030) (2,237) (2,002) (2,882) (2,462) (2,415) (2,411) (3,166) Net flows 443 4 767 (355) 1,402 1,995 1,245 458 Market / FX movements (195) 846 2,118 418 1,368 949 144 968 Closing AUM 31,418 32,268 35,153 35,216 37,986 40,930 42,319 43,745 Segregated mandates =========== =============== ======= ================= ======= =============== ======= ================== ======= Opening AUM 3,527 3,775 3,754 4,136 4,244 4,394 4,708 4,896 Gross inflows 314 48 142 76 117 308 142 231 Gross outflows (40) (133) (111) (89) (210) (119) (31) (74) Net flows 274 (85) 31 (13) (93) 189 111 157 Market / FX movements (26) 64 351 121 243 125 77 155 Closing AUM 3,775 3,754 4,136 4,244 4,394 4,708 4,896 5,208 Investment trusts =========== =============== ======= ================= ======= =============== ======= ================== ======= Opening AUM 977 988 1,001 1,067 1,083 1,153 1,269 1,216 Gross inflows 11 1 - - - 81 3 25 Gross outflows (5) (12) (9) (5) (3) (6) (16) (70) Net flows 6 (11) (9) (5) (3) 75 (13) (45) Market / FX movements 5 24 75 21 73 41 (40) 56 Closing AUM 988 1,001 1,067 1,083 1,153 1,269 1,216 1,227
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTUROBRWBAAAAR
(END) Dow Jones Newswires
January 11, 2018 02:00 ET (07:00 GMT)
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