Jupiter Fund Management Share Discussion Threads

[salpara111] 25/2/2022 08:50

Good value but until the net outflows stop the share price will not turn around.

[coxsmn] 25/2/2022 08:15

Strong set of results.

[2wild] 24/2/2022 22:02

m_kerr - could not agree more. Added to JUP at 203.5p and MNG at 203.15p yielding 8.4% and 9% respectively, excluding special dividends.

[m_kerr] 24/2/2022 19:26

I liked jupiter at £2.40 so I like it even more at £2.04. I don't recall the Crimea invasion affecting underlying value of businesses with virtually zero exposure to ukraine or Russia. the time to buy shares is when they are discounted. there's very obvious parallels with equiniti here.

[coxsmn] 24/2/2022 16:08

Abdn confirmed the dividend will be maintained at current levels

[wunderbar] 24/2/2022 15:08

Now Russia has officially invaded Ukraine markets are in turmoil, and unfortunately JUP has now sunk to levels not seen since Covid crash back in March 2020. Does fortune favour the brave? Well, I've been snapping up what I hope will turn out to be bargains in coming months. More JUP @ 203p, couldn't resist ABDN @ 204p (also approaching Covid lows), topped up BP @ 364p, MCRO @ 373p and a punt on TCAP @ 119p (almost back to levels not seen since financial crash back in 2009).

Anyone else feeling brave? I must admit to being slightly nervous ahead of JUP's full year results tomorrow - anything unpleasant and the bloodbath will likely continue. If this turns out to be the case then I really hope the absolute bottom is 180-190p. The dividend yields on JUP & ABDN are now 8.4% & 7% respectively. But are they too good to be true? Any cut would be a hammer blow. Both seem significantly oversold to me but Mr Market begs to differ.

Quick state of play re share price performances:
JUP (204p): -11% in 1 month, -24% over 6 months, -31% over 12 months.
ABDN (205p): -11% in 1 month, -23% over 6 months, -37% over 12 months.

[linton5] 22/2/2022 12:47

Why don’t the company let themselves get taken over better than what they are doing lol

[wllmherk] 22/2/2022 10:14

These and ABRDN getting clobbered, results for JUP on Friday, hopefully stem the bleeding, was having a decent start to the year but these and RAVP have me well into negative territory Wllmherk :)

[km18] 21/2/2022 18:07

...from last year...

Jupiter Fund Management is a traditional fund manager focusing primarily on managing equity investments on behalf of retail, institutional and private client investors across a range of products, including UK and offshore mutual funds, segregated mandates and investment trusts. It offers a range of products and services through various distribution channels. Current market cap is around £1.6b.

JUP presented its interim results for 2021 and as a whole they looked pretty solid. Investment performance has remained strong, with 69% of mutual fund assets under management (AUM) above median over three years.  AUM ended the period at a record high of £60.3b. Revenues grew to £247.7m in H1 2021. Operating margin was stable at around 36% in H1 2021. Underlying profit before tax increased 38% to £78.2m (2020 H1: £56.6m). Statutory profits rose 40% to £57.0m (2020 H1: £40.8m). Underlying earnings per share grew 15% to 11.5p, the interim dividend was unchanged at 7.9p per share....

...from WealthOracleAM

[mister md] 18/2/2022 15:20

yes also looking to add more ABRDN at current levels (despite it's new silly name)

[m_kerr] 17/2/2022 16:33

wunderbar - FWIW i think JUP is a very solid investment at this price. no debt, very low capital intensity, meaning profits efficiently flow through to free cash flow and thereafter dividends. rivals will see an opportunity to combine to strip out costs, and private equity would be interested in the steady and predictable management fee revenue. and for shareholders, a very punchy dividend yield approaching almost 8% (and that doesnt include the special dividends which have been a fairly regular occurrence).

[wunderbar] 17/2/2022 14:48

I’ve been watching this stock for many months and recently bought a couple of tranches c.223p. I was hooked in by four things: Firstly, JUP has a dividend yield of 7.5%. Secondly, the share price (220p) is not far off historic lows (185-200p) thus appears to be good value. Thirdly, this stock and sector is traditionally boring and I’m looking to plant funds in unfashionable corners of the market. And finally, at this price point there is scope for significant capital gains when the market tide turns in JUP’s favour – I’m looking to double my money in 3-5 years. But right now this stock is unloved (noting sector is out of favour, ABDN also struggling). Is JUP a value trap (possible dividend cut) or is it a bargain? Needless to say I’m pinning my hopes on the latter.

To paraphrase Jack Nicholson’s famous one-liner from Batman: this company needs an enema! It’s share price performance over the past year has been woeful, down 25% in a rising market. In the past month alone it has fallen 9% but dare I say looks to be bottoming out at 220p. Perhaps JUP’s forthcoming full-year results on 25 February will prove to be the catalyst for a long overdue correction. Of course should they prove to be uninspiring then don’t be surprised if the market overreacts! I’m happy to buy more should we see 200-210p.

I also note recent speculation JUP might be a potential takeover target. An article I stumbled across (published December) stated the company had not yet received an approach, but was “on the radar” of potential bidders. The article went on to say Jupiter has allegedly hired one of London’s leading investment boutiques to strengthen its defences against a potential takeover. So then, how does a company successfully fend off what would presumably be seen as a hostile approach? Offer shareholders a chunky special dividend? (yes please). Or perhaps increase existing dividend (unlikely given the already high yield). I sincerely hope they don’t go down the well-trodden path of buying back company shares (yawn) – I absolutely hate it. Buy Backs rarely benefit shareholders in monetary terms, the vast majority of these have no impact on share price whatsoever. Give me cash in pocket any day. All this is pure conjecture of course. Time will tell whether this is just wild speculation or not.

Barring any takeover approach, and assuming we do see a recovery of sorts, I’d be disappointed not to see 270-290p come the end of this year.

[m_kerr] 11/2/2022 20:03

price drifted downwards. now the bid rumours have gone quiet, seems a load of people who bought in anticipation have sold off. if the numbers stack up for private equity, they don't care about quarterly performance or short term sentiment. i remember things going quiet after bid speculation at Equiniti before bang, 25-30% bid premium out of the blue. fund management is a great business to be in, with low risk, high margin revenue streams. even that prat woodford made a great deal of money from a failed fund.

[mister md] 11/2/2022 14:06

I've been adding to my holding since the bid rumours:



But it's been a serious under-performer so far !

[rcturner2] 06/2/2022 09:53

I sold out of JUP at 263p in September last year.

I must admit I am surprised to see the share price down here.

I will definitely be thinking about getting back in if this goes much lower.

[g2theary] 04/2/2022 22:01

Above what expected inflation is :) I fee inflation may go higher but time will tell...

[2wild] 04/2/2022 13:53

Added at 223.6p yielding 7.64% based on 17.1p unchanged annual dividend, excluding specials.

[g2theary] 04/2/2022 11:54

Near 9% divi on this ... I assume this has a divi policy that changes with profits? This really has had a bad run :-/

[eigthwonder] 27/1/2022 19:31

Also known as “a Persimmon moment”

[wllmherk] 21/1/2022 18:57

Might have jumped in a tad early,

wllm :(

[wllmherk] 17/1/2022 11:57

I agree 1pvh, had a buy order set 245p, filled this morning,

wllm :)

[1pvh] 12/1/2022 14:08

Brokers downgrade Look decent value to me at this price

[boozey] 12/1/2022 10:13

What is that drop about today? Any views? A buying opportunity!

[m_kerr] 14/12/2021 13:25

is there any reason why it's about 40% down from pre Pandemic? equities have mostly increased since then.