Trading Update and Notice of Results

RNS Number : 2298K

Jupiter Fund Management PLC

15 April 2015

 

Jupiter Fund Management plc

Trading Update and Notice of Results

15 April 2015

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 31 March 2015.

HIGHLIGHTS

§ Assets under management ("AUM") increased to £34.8 billion as at 31 March 2015.

§ Net mutual fund inflows of £883 million in the three months to 31 March 2015.

Maarten Slendebroek, Chief Executive, commented:

"Our core mutual fund franchise again delivered healthy organic growth this quarter, resulting from the continued delivery of our strategy to diversify by product, client type and geography.  Combined with healthy market growth, this helped Jupiter to increase its total assets under management to £34.8 billion."

ASSETS UNDER MANAGEMENT AND FLOWS

		31 December       2014 £m	Q1 net flows £m	Market movement £m	31 March          2015 £m
	Mutual funds	27,544	883	1,706	30,133
	Segregated mandates	3,558	(32)	223	3,749
	Investment trusts	793	21	65	879
	Total	31,895	872	1,994	34,761

Net mutual fund inflows were £883 million during the first quarter, with top selling funds including Strategic / Dynamic Bond and both our European equity strategies. Together with improved market levels, this led to mutual funds AUM increasing to over £30 billion at 31 March 2015. Overall net inflows for the quarter were £872 million, resulting in total AUM at 31 March 2015 of £34.8 billion.

NOTICE OF RESULTS

Jupiter will issue its results for the period ended 30 June 2015 on 29 July 2015 and will host an analyst presentation to discuss the results at 9.00am. The presentation will be held at FTI Consulting, 200 Aldersgate, Aldersgate Street, London, EC1A 4HD.

LOOKING FORWARD

Continuing healthy levels of client activity affirms the confidence we have in our strategy to broaden our network of distribution relationships in those markets and products which offer the most 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 profitable growth at attractive margins. This, together with our sustainable balance sheet structure, should enable us to continue to share the rewards of this growth with our stakeholders.

For further information please contact:			Investors	Media
	Jupiter		Philip Johnson [phone]	Despina Constantinides [phone]
	FTI Consulting		Laura Ewart [phone]	Andrew Walton [phone]

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

Historic flow and AUM data by quarter

	Flows and AUM by quarter
		Q1 2014 £m	Q2 2014 £m	Q3 2014 £m	Q4 2014 £m	Q1 2015 £m	Q2 2015 £m	Q3 2015 £m	Q4 2015 £m
	Total
	Opening AUM	31,659	32,211	33,105	31,658	31,895
	Gross inflows	2,320	2,543	2,239	1,956	2,949
	Gross outflows	(1,773)	(1,822)	(2,021)	(2,582)	(2,077)
	Net flows	547	721	218	(626)	872
	Market / FX movements	5	173	(155)	928	1,994
	Private client transaction	n/a	n/a	(1,510)	(65)	-
	Closing AUM	32,211	33,105	31,658	31,895	34,761
	Mutual funds
	Opening AUM	24,760	25,195	25,761	26,387	27,544
	Gross inflows	1,970	2,095	2,069	1,917	2,747
	Gross outflows	(1,505)	(1,685)	(1,838)	(1,608)	(1,864)
	Net flows	465	410	231	309	883
	Market / FX movements	(30)	156	(79)	848	1,706
	Private client transaction	n/a	n/a	474	-	-
	Closing AUM	25,195	25,761	26,387	27,544	30,133
	Segregated mandates
	Opening AUM	3,911	3,834	4,197	4,250	3,558
	Gross inflows	130	410	170	27	175
	Gross outflows	(216)	(84)	(182)	(743)	(207)
	Net flows	(86)	326	(12)	(716)	(32)
	Market / FX movements	9	37	(61)	24	223
	Private client transaction	n/a	n/a	126	-	-
	Closing AUM	3,834	4,197	4,250	3,558	3,749
	Investment trusts
	Opening AUM	722	902	906	956	793
	Gross inflows	161	2	0	12	26
	Gross outflows	(2)	(3)	(1)	(231)	(5)
	Net flows	159	(1)	(1)	(219)	21
	Market / FX movements	21	5	(15)	56	65
	Private client transaction	n/a	n/a	66	-	-
	Closing AUM	902	906	956	793	879
	Private clients
	Opening AUM	2,266	2,280	2,241	65	-
	Gross inflows	59	36	-	-	-
	Gross outflows	(50)	(50)	-	-	-
	Net flows	9	(14)	-	-	-
	Market / FX movements	5	(25)	-	-	-
	Private client transaction	n/a	n/a	(2,176)	(65)	-
	Closing AUM	2,280	2,241	65	-	-

Note:

Jupiter sold its private clients and charities contracts to Rathbones Investment Management Limited on 26 September 2014. As a result of this transaction, 30% of this line's AUM was reclassified into other categories at this date as these assets were still managed by the Group after the sale.

 

END

 

 

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