Source - RNS
RNS Number : 4014M
Jupiter Fund Management PLC
13 October 2016
 

            

Jupiter Fund Management plc

Trading Update and Notice of Results


 

 

13 October 2016

 

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 30 September 2016.

 

HIGHLIGHTS

 

Overall net inflows for the quarter were £789 million, resulting in total AUM at 30 September 2016 of £40.4 billion.

 

§ Net mutual fund inflows of £767 million in the three months to 30 September 2016.

§ Net segregated mandate inflows of £31 million in the three months to 30 September 2016.

 

 

Maarten Slendebroek, Chief Executive, commented:

 

"We are pleased to report that our mutual fund franchise delivered a strong quarter with net inflows of £0.8 billion, including positive flows from   our segregated mandate channel. This has been achieved against a backdrop of market uncertainty following the UK referendum.  Alongside these flows, we continue to see strong investment performance across our product range."

 

ASSETS UNDER MANAGEMENT AND FLOWS

 

 

 

 

 

 

 

 

 

 

30 June

 2016

£m

          Q3 net flows

                         £m

Market/FX movement

£m

30 September

 2016

£m

 


Mutual funds

32,268

                        767

                    2,118

35,153



Segregated mandates

3,754

                         31

                       351

4,136



Investment trusts

1,001

  (9)

 75

1,067



Total

37,023

                       789

                    2,544

40,356









 

Total AUM increased across the quarter as a result of healthy inflows, weak sterling and positive investment returns.

 

Net mutual fund inflows were £767 million during the third quarter, with significant inflows into our Absolute Return, Fixed Income and Global Emerging Market strategies and a return to net flows from the Income Trust Fund, within the UK Value Strategy. 

 

NOTICE OF RESULTS

 

Jupiter will be issuing its audited results for the period ended 31 December 2016 on 28 February 2017 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.

 

SUMMARY

 

Client flows returned to the levels achieved in the first quarter of the year, affirming the confidence we have in our strategy of diversification by product and client type into areas offering potential for long-term growth.  We are confident that, as we extend our relationships with key distributors on a global basis and deliver outperformance after fees, we can continue to deliver growth.

 

Looking forward towards the end of this year and into 2017, we expect the current challenging environment of changeable markets and regulatory uncertainty to continue, but we believe that the resilience in our business arising from continued diversification, supported by a strong and sustainable balance sheet, leaves us well-placed to progress and to continue to share the rewards of growth with our stakeholders.

 

 

For further information please contact:


Investors

Media


 

Jupiter

Alex Sargent/Charlotte Jones

+44 (0)20 3817 1534/1519

Alicia Wyllie

+44 (0)20 3817 1638

 

 

 

 

FTI Consulting

Tom Blackwell

+44 (0)20 3727 1051

Andrew Walton

+44 (0)20 3727 1514


 

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.

 

3

 

 

 

 

 

 

 

 

 

 

 

 

 

Flows and AUM by quarter









 

 

 

 

Q1 2015

£m

Q2 2015

£m

Q3 2015

£m

Q4 2015

£m

Q1 2016

£m

Q2 2016

£m

Q3 2016

£m

Q4 2016

£m

 


Total

 

 

 

 

 

 

 

 



Opening AUM

31,895

34,761

34,332

33,525

35,674

36,181

37,023


 


Gross inflows

2,949

2,523

2,126

2,161

2,798

2,290

2,911


 


Gross outflows

(2,077)

(2,025)

(2,049)

(1,665)

(2,075)

(2,382)

(2,122)


 


Net flows

872

498

77

496

             723

(92)

789


 


Market / FX movements

1,994

(927)

(884)

1,653

(216)

934

2,544


 


Closing AUM

34,761

34,332

33,525

35,674

36,181

37,023

40,356


 


 









 


Mutual funds


 

 




 


 


Opening AUM

27,544

30,133

29,738

29,215

31,170

31,418

32,268


 


Gross inflows

2,747

2,432

2,031

2,077

2,473

2,241

2,769


 


Gross outflows

(1,864)

(1,961)

(1,835)

(1,527)

(2,030)

(2,237)

(2,002)


 


Net flows

883

471

196

549

443

4

767


 


Market / FX movements

1,706

(866)

(719)

1,406

(195)

846

2,118


 


Closing AUM

30,133

29,738

29,215

31,170

31,418

32,268

35,153


 


 









 


Segregated mandates









 


Opening AUM

3,558

3,749

3,737

3,409

3,527

3,775

3,754


 


Gross inflows

175

65

69

75

314

48

142


 


Gross outflows

(207)

(64)

(211)

(132)

(40)

(133)

(111)


 


Net flows

(32)

1

(142)

(57)

274

(85)

31


 


Market / FX movements

223

(13)

(186)

175

(26)

64

351


 


Closing AUM

3,749

3,737

3,409

3,527

3,775

3,754

4,136


 











 


Investment trusts









 


Opening AUM

793

879

857

901

977

988

1,001


 


Gross inflows

26

26

25

9

11

1

                 -


 


Gross outflows

(5)

-

(2)

(5)

(5)

(12)

(9)


 


Net flows

21

26

23

4

6

(11)

(9)


 


Market / FX movements

65

(48)

21

72

5

24

75


 


Closing AUM

879

857

901

977

988

1,001

1,067


 


 









 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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