Trading Update and Notice of Results

RNS Number : 9553V
Jupiter Fund Management PLC
20 April 2021
 

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.

 

 

 

 

£m

 

AUM at

31 December 2020

Q1 2021

net flows

Q1 2021

market returns

AUM at

31 March 2021

 

 

Mutual funds

 

49,871

(848)

287

49,310

 

 

Segregated mandates

 

7,970

(149)

511

8,332

 

 

Investment trusts

 

892

221

39

1,152

 

 

Total

 

58,733

(776)

837

58,794

 

 

 

 

 

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:

 

 

 

 

 

 

 

 

Jupiter

Alex James (Investors)

+44 (0)20 3817 1636

Despina Constantinides (Media)

+44 (0)20 3817 1278

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

Flows and AUM by quarter

 

 

 

 

 

 

 

 

 

 

 

 

Q1 2020

£m

Q2 2020

£m

Q3 2020

£m

Q4 2020

£m

Q1 2021

£m

Q2 2021

£m

Q3 2021

£m

Q4 2021

£m

 

 

Total

 

 

 

 

 

 

 

 

 

 

Opening AUM

42,831

34,985

39,208

55,694

58,733

 

 

 

 

 

Acquisition

-

-

16,639

-

-

 

 

 

 

 

Gross inflows

4,065

3,075

4,422

4,903

5,380

 

 

 

 

 

Gross outflows

(6,383)

(2,770)

(5,375)

(5,909)

(6,156)

 

 

 

 

 

Net flows

(2,318)

305

(953)

(1,006)

(776)

 

 

 

 

 

Market returns

(5,528)

3,918

800

4,045

837

 

 

 

 

 

Closing AUM

34,985

39,208

55,694

58,733

58,794

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds

 

 

 

 

 

 

 

 

 

 

Opening AUM

37,692

30,671

34,264

48,258

49,871

 

 

 

 

 

Acquisition

-

-

13,970

-

-

 

 

 

 

 

Gross inflows

3,353

2,823

4,057

4,048

4,524

 

 

 

 

 

Gross outflows

(6,244)

(2,603)

(4,803)

(5,380)

(5,372)

 

 

 

 

 

Net flows

(2,891)

220

(746)

(1,332)

(848)

 

 

 

 

 

Market returns

(4,130)

3,373

770

2,945

287

 

 

 

 

 

Closing AUM

30,671

34,264

48,258

49,871

49,310

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segregated mandates

 

 

 

 

 

 

 

 

 

 

Opening AUM

4,811

4,084

4,668

6,784

7,970

 

 

 

 

 

Acquisition

-

-

2,375

-

-

 

 

 

 

 

Gross inflows

712

252

365

782

596

 

 

 

 

 

Gross outflows

(137)

(164)

(562)

(527)

(745)

 

 

 

 

 

Net flows

575

88

(197)

255

(149)

 

 

 

 

 

Market returns

(1,302)

496

(62)

931

511

 

 

 

 

 

Closing AUM

4,084

4,668

6,784

7,970

8,332

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment trusts

 

 

 

 

 

 

 

 

 

 

Opening AUM

328

230

276

652

892

 

 

 

 

 

Acquisition

-

-

294

-

-

 

 

 

 

 

Gross inflows

0

0

0

73

260

 

 

 

 

 

Gross outflows

(2)

(3)

(10)

(2)

(39)

 

 

 

 

 

Net flows

(2)

(3)

(10)

71

221

 

 

 

 

 

Market returns

(96)

49

92

169

39

 

 

 

 

 

Closing AUM

230

276

652

892

1,152

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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