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 [phone]	Alicia Wyllie [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.

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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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