Jupiter Fund Management PLC Trading Update and Notice of Results (6564D)

TIDMJUP

RNS Number : 6564D

Jupiter Fund Management PLC

11 October 2018

Jupiter Fund Management plc

Trading Update and Notice of Results

11 October 2018

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 30 September 2018.

HIGHLIGHTS

   -- Net outflows in the quarter of GBP0.8bn. 
 
   -- AUM at 30 September 2018 was GBP47.7bn. 

ASSETS UNDER MANAGEMENT AND FLOWS

 
 
                       30 June                Market/FX  30 September 
                        2018    Q3 net flows   movement   2018 
                        GBPm     GBPm          GBPm       GBPm 
 ====================  =======  ============  =========  ============ 
 Mutual funds          41,998   (773)         248        41,473 
 ====================  =======  ============  =========  ============ 
 Segregated mandates   4,961    (62)          2          4,901 
 ====================  =======  ============  =========  ============ 
 Investment trusts     1,276    2             69         1,347 
 ====================  =======  ============  =========  ============ 
 Total                 48,235   (833)         319        47,721 
 ====================  =======  ============  =========  ============ 
 

Q3 2018 saw AUM decrease from the half year to GBP47.7bn as a result of GBP0.8bn net outflows, partly offset by positive performance of GBP0.3bn.

Net mutual fund outflows were GBP0.8bn during the quarter, GBP0.6bn of which were from our Fixed Income strategy, principally in Continental Europe. We also saw negative flows in our European Opportunities and Fund of Funds strategies, partially offset by positive flows in our European Growth, Value Equities and Absolute Return strategies.

In keeping with our strategy of continued diversification, the Merlin Real Return (Unit Trust), Eurozone Equity (SICAV) and Flexible Income (SICAV) Funds were all launched in the quarter, strengthening our Fund of Funds, European Opportunities and Multi Asset strategies respectively. Within our Alternatives strategy, we launched the US Equity Long Short (SICAV) Fund in October.

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              Investors                    Media 
please contact: 
  Jupiter                      Alex Sargent/Investor     Kate O'Neill/Corporate 
                                     Relations                Communications 
                              [phone]/1065   [phone]/1278 
 
  Powerscourt                    Justin Griffiths            Matthew Attwood 
                                [phone]        [phone] 
 
 

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

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October 11, 2018 02:00 ET (06:00 GMT)