| Trading Update and Notice of Results |
20 April 2021
Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 31 March 2021.
HIGHLIGHTS
· Assets under management (AUM) closed the period at £58.8bn, an increase of £0.1bn from 31 December 2020
· There were net outflows in the period of £0.8bn. Positive net inflows from fixed income strategies, through NZS capital and a capital raise by the Chrysalis Investment Trust were offset by continuing lower client demand for UK and European equity strategies.
Mutual funds saw total net outflows of £848m, driven by continued lower client demand for UK and European-focused equity strategies. These were partially offset by positive flows into Dynamic and Strategic Bond and the Gold & Silver strategy, as well as a return to positive flows for the Global Equity Absolute Return fund.
Investment Trusts generated total net inflows of £221m, led by a capital raise by the Chrysalis Investment Trust. In segregated mandates, NZS Capital also continued to see strong client demand, generating more than £250m of net inflows. However, this was offset by redemptions in other strategies, primarily UK equities, resulting in total net outflows of £149m.
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| AUM at 31 December 2020 | Q1 2021 net flows | Q1 2021 market returns | AUM at 31 March 2021 |
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| Mutual funds |
| 49,871 | (848) | 287 | 49,310 |
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| Segregated mandates |
| 7,970 | (149) | 511 | 8,332 |
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| Investment trusts |
| 892 | 221 | 39 | 1,152 |
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| Total |
| 58,733 | (776) | 837 | 58,794 |
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NOTICE OF RESULTS
Jupiter will be issuing Interim results for the period to 30 June 2021 on 30 July 2021 and will host an analyst presentation to discuss the results. The format of the results presentation will be determined based on the UK's government applicable advice and more details will be provided in due course.
| For further information please contact: |
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| Jupiter | Alex James (Investors) +44 (0)20 3817 1636 | Despina Constantinides (Media) +44 (0)20 3817 1278 |
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| 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 of operations and businesses of the Group. Such statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by forward-looking statements and forecasts. Forward-looking statements and forecasts are based on the Directors' current view and information known to them at the date of this announcement. The Directors do not make any undertaking to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Nothing in this announcement should be construed as a profit forecast.
| Historic quarterly net flows and AUM |
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| Flows and AUM by quarter |
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| Q1 2020 £m | Q2 2020 £m | Q3 2020 £m | Q4 2020 £m | Q1 2021 £m | Q2 2021 £m | Q3 2021 £m | Q4 2021 £m |
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| Total |
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| Opening AUM | 42,831 | 34,985 | 39,208 | 55,694 | 58,733 |
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| Acquisition | - | - | 16,639 | - | - |
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| Gross inflows | 4,065 | 3,075 | 4,422 | 4,903 | 5,380 |
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| Gross outflows | (6,383) | (2,770) | (5,375) | (5,909) | (6,156) |
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| Net flows | (2,318) | 305 | (953) | (1,006) | (776) |
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| Market returns | (5,528) | 3,918 | 800 | 4,045 | 837 |
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| Closing AUM | 34,985 | 39,208 | 55,694 | 58,733 | 58,794 |
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| Mutual funds |
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| Opening AUM | 37,692 | 30,671 | 34,264 | 48,258 | 49,871 |
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| Acquisition | - | - | 13,970 | - | - |
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| Gross inflows | 3,353 | 2,823 | 4,057 | 4,048 | 4,524 |
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| Gross outflows | (6,244) | (2,603) | (4,803) | (5,380) | (5,372) |
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| Net flows | (2,891) | 220 | (746) | (1,332) | (848) |
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| Market returns | (4,130) | 3,373 | 770 | 2,945 | 287 |
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| Closing AUM | 30,671 | 34,264 | 48,258 | 49,871 | 49,310 |
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| Segregated mandates |
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| Opening AUM | 4,811 | 4,084 | 4,668 | 6,784 | 7,970 |
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| Acquisition | - | - | 2,375 | - | - |
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| Gross inflows | 712 | 252 | 365 | 782 | 596 |
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| Gross outflows | (137) | (164) | (562) | (527) | (745) |
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| Net flows | 575 | 88 | (197) | 255 | (149) |
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| Market returns | (1,302) | 496 | (62) | 931 | 511 |
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| Closing AUM | 4,084 | 4,668 | 6,784 | 7,970 | 8,332 |
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| Investment trusts |
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| Opening AUM | 328 | 230 | 276 | 652 | 892 |
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| Acquisition | - | - | 294 | - | - |
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| Gross inflows | 0 | 0 | 0 | 73 | 260 |
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| Gross outflows | (2) | (3) | (10) | (2) | (39) |
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| Net flows | (2) | (3) | (10) | 71 | 221 |
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| Market returns | (96) | 49 | 92 | 169 | 39 |
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| Closing AUM | 230 | 276 | 652 | 892 | 1,152 |
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