Trading Update and Notice of Results

RNS Number : 9878U

Jupiter Fund Management PLC

13 April 2016

 

Trading Update and Notice of Results

13 April 2016

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 31 March 2016.

HIGHLIGHTS

Overall net inflows for the quarter were £723 million, boosted by segregated mandate inflows, resulting in total AUM at 31 March 2016 of £36.2 billion.

§ Net mutual fund inflows of £443 million in the three months to 31 March 2016.

§ Net segregated mandate inflows of £274 million in the three months to 31 March 2016.

Maarten Slendebroek, Chief Executive, commented:

"We are pleased to report that our mutual fund franchise again delivered healthy net flows of £0.4 billion this quarter, complemented by net flows of £0.3 billion into segregated mandates. This has been achieved despite less favourable market conditions, although our investment performance has remained strong."

ASSETS UNDER MANAGEMENT AND FLOWS

		31 December  2015 £m	Q1 net flows £m	Market movement £m	31 March  2016 £m
	Mutual funds	31,170	443	(195)	31,418
	Segregated mandates	3,527	274	(26)	3,775
	Investment trusts	977	6	5	988
	Total	35,674	723	(216)	36,181

Net mutual fund inflows were £443 million during the first quarter, with inflows into European equity and global bond strategies, and from the launch of a new Asian equity product. Total AUM increased across the quarter as net inflows more than offset negative market movements.

NOTICE OF RESULTS

Jupiter will be issuing its audited results for the period ended 30 June 2016 on 27 July 2016 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

Continuing healthy levels of client flows affirm 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		Alex Sargent [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 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
	Gross inflows	2,949	2,523	2,126	2,161	2,798
	Gross outflows	(2,077)	(2,025)	(2,049)	(1,665)	(2,075)
	Net flows	872	498	77	496	723
	Market / FX movements	1,994	(927)	(884)	1,653	(216)
	Closing AUM	34,761	34,332	33,525	35,674	36,181
	Mutual funds
	Opening AUM	27,544	30,133	29,738	29,215	31,170
	Gross inflows	2,747	2,432	2,031	2,077	2,473
	Gross outflows	(1,864)	(1,961)	(1,835)	(1,527)	(2,030)
	Net flows	883	471	196	549	443
	Market / FX movements	1,706	(866)	(719)	1,406	(195)
	Closing AUM	30,133	29,738	29,215	31,170	31,418
	Segregated mandates
	Opening AUM	3,558	3,749	3,737	3,409	3,527
	Gross inflows	175	65	69	75	314
	Gross outflows	(207)	(64)	(211)	(132)	(40)
	Net flows	(32)	1	(142)	(57)	274
	Market / FX movements	223	(13)	(186)	175	(26)
	Closing AUM	3,749	3,737	3,409	3,527	3,775
	Investment trusts
	Opening AUM	793	879	857	901	977
	Gross inflows	26	26	25	9	11
	Gross outflows	(5)	-	(2)	(5)	(5)
	Net flows	21	26	23	4	6
	Market / FX movements	65	(48)	21	72	5
	Closing AUM	879	857	901	977	988

 

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