Trading Update and Notice of Results

RNS Number : 8104L
Jupiter Fund Management PLC
14 January 2016
 

 

Jupiter Fund Management plc

Trading Update and Notice of Results

 

Trading Update and Notice of Results

 

14 January 2016

 

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

 

HIGHLIGHTS

 

§ Assets under management ("AUM") of £35.7 billion as at 31 December 2015.

§ Net mutual fund inflows of £549 million in the three months to 31 December 2015.

§ Cumulative net mutual fund inflows of £2.1 billion in the year to 31 December 2015.

 

Maarten Slendebroek, Chief Executive, commented:

 

"Our mutual fund franchise again delivered healthy net flows of £0.5 billion this quarter, resulting in cumulative net mutual fund flows of £2.1 billion for the full year. 2015 has been another good year for Jupiter, reflecting our strategy to diversify by product, client type and geography, all supported by strong investment performance. Across the whole of 2015, these combined to deliver organic mutual fund flow growth of eight per cent. and to increase total AUM by 12 per cent. to £35.7 billion despite broadly flat markets."

 

ASSETS UNDER MANAGEMENT AND FLOWS

 

 

 

 

 

 

 

 

 

 

30 September 2015

£m

Q4 net flows

£m

Market movement

£m

31 December

 2015

£m

 


Mutual funds

29,215

549

1,406

31,170



Segregated mandates

3,409

(57)

175

3,527



Investment trusts

901

4

72

977



Total

33,525

496

1,653

35,674









 

Net mutual fund inflows were £549 million during the fourth quarter, with top selling funds including our European Growth and Dynamic Bond strategies. Net inflows and strong relative investment performance saw mutual fund AUM increase to over £31 billion at 31 December 2015, an increase of 13 per cent over the full year. Overall net inflows for the quarter were £496 million, held back by the loss of a segregated mandate following the decision by the client to de-risk its portfolio, resulting in total AUM at 31 December 2015 of £35.7 billion.

 

NOTICE OF RESULTS

 

Jupiter will be issuing its audited results for the year ended 31 December 2015 on 29 February 2016 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.

 

SUMMARY

 

2015 has seen continued strong delivery at Jupiter across all our key metrics. We believe our growth strategy and chosen markets have further room for expansion over time. We intend to access these opportunities in the same disciplined manner, choosing to grow organically in those areas where we have a high degree of confidence in our future success, while ensuring we always maintain the quality of our investment franchise.

 

 

For further information please contact:


Investors

Media



Jupiter

Philip Johnson

+44 (0)20 3817 1410

Alicia Wyllie

+44 (0)20 3817 1638

 

 

 


FTI Consulting

Laura Ewart

+44 (0)20 3727 1160

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

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

34,761

34,332

33,525

 


Gross inflows

2,320

2,543

2,239

1,956

2,949

2,523

2,126

2,161

 


Gross outflows

(1,773)

(1,822)

(2,021)

(2,582)

(2,077)

(2,025)

(2,049)

(1,665)

 


Net flows

547

721

218

(626)

872

498

77

496

 


Market / FX movements

5

173

(155)

928

1,994

(927)

(884)

1,653

 


Private client transaction

n/a

n/a

(1,510)

(65)

-

n/a

n/a

n/a

 


Closing AUM

32,211

33,105

31,658

31,895

34,761

34,332

33,525

35,674

 


 


 

 




 


 


Mutual funds


 

 




 


 


Opening AUM

24,760

25,195

25,761

26,387

27,544

30,133

29,738

29,215

 


Gross inflows

1,970

2,095

2,069

1,917

2,747

2,432

2,031

2,077

 


Gross outflows

(1,505)

(1,685)

(1,838)

(1,608)

(1,864)

(1,961)

(1,835)

(1,527)

 


Net flows

465

410

231

309

883

471

196

549

 


Market / FX movements

(30)

156

(79)

848

1,706

(866)

(719)

1,406

 


Private client transaction

n/a

n/a

474

-

-

n/a

n/a

n/a

 


Closing AUM

25,195

25,761

26,387

27,544

30,133

29,738

29,215

31,170

 




 

 




 


 


Segregated mandates


 

 




 


 


Opening AUM

3,911

3,834

4,197

4,250

3,558

3,749

3,737

3,409

 


Gross inflows

130

410

170

27

175

65

69

75

 


Gross outflows

(216)

(84)

(182)

(743)

(207)

(64)

(211)

(132)

 


Net flows

(86)

326

(12)

(716)

(32)

1

(142)

(57)

 


Market / FX movements

9

37

(61)

24

223

(13)

(186)

175

 


Private client transaction

n/a

n/a

126

-

-

n/a

n/a

n/a

 


Closing AUM

3,834

4,197

4,250

3,558

3,749

3,737

3,409

3,527

 




 

 




 


 


Investment trusts


 

 




 


 


Opening AUM

722

902

906

956

793

879

857

901

 


Gross inflows

161

2

0

12

26

26

25

9

 


Gross outflows

(2)

(3)

(1)

(231)

(5)

-

(2)

(5)

 


Net flows

159

(1)

(1)

(219)

21

26

23

4

 


Market / FX movements

21

5

(15)

56

65

(48)

21

72

 


Private client transaction

n/a

n/a

66

-

-

n/a

n/a

n/a

 


Closing AUM

902

906

956

793

879

857

901

977

 




 

 




 


 


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 that date as those assets were still managed by the Group after the sale.

 


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