Trading Update and Notice of Results

RNS Number : 4014M

Jupiter Fund Management PLC

13 October 2016

 

	Jupiter Fund Management plc
Trading Update and Notice of Results

13 October 2016

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 30 September 2016.

HIGHLIGHTS

Overall net inflows for the quarter were £789 million, resulting in total AUM at 30 September 2016 of £40.4 billion.

§ Net mutual fund inflows of £767 million in the three months to 30 September 2016.

§ Net segregated mandate inflows of £31 million in the three months to 30 September 2016.

Maarten Slendebroek, Chief Executive, commented:

"We are pleased to report that our mutual fund franchise delivered a strong quarter with net inflows of £0.8 billion, including positive flows from   our segregated mandate channel. This has been achieved against a backdrop of market uncertainty following the UK referendum.  Alongside these flows, we continue to see strong investment performance across our product range."

ASSETS UNDER MANAGEMENT AND FLOWS

		30 June  2016 £m	Q3 net flows                          £m	Market/FX movement £m	30 September  2016 £m
	Mutual funds	32,268	767	2,118	35,153
	Segregated mandates	3,754	31	351	4,136
	Investment trusts	1,001	(9)	75	1,067
	Total	37,023	789	2,544	40,356

Total AUM increased across the quarter as a result of healthy inflows, weak sterling and positive investment returns.

Net mutual fund inflows were £767 million during the third quarter, with significant inflows into our Absolute Return, Fixed Income and Global Emerging Market strategies and a return to net flows from the Income Trust Fund, within the UK Value Strategy. 

NOTICE OF RESULTS

Jupiter will be issuing its audited results for the period ended 31 December 2016 on 28 February 2017 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

Client flows returned to the levels achieved in the first quarter of the year, affirming the confidence we have in our strategy of diversification by product and client type into areas offering 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 growth.

Looking forward towards the end of this year and into 2017, we expect the current challenging environment of changeable markets and regulatory uncertainty to continue, but we believe that the resilience in our business arising from continued diversification, supported by a strong and sustainable balance sheet, leaves us well-placed to progress and to continue to share the rewards of growth with our stakeholders.

For further information please contact:			Investors	Media
	Jupiter		Alex Sargent/Charlotte Jones [phone]/1519	Alicia Wyllie [phone]
	FTI Consulting		Tom Blackwell [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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	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	36,181	37,023
	Gross inflows	2,949	2,523	2,126	2,161	2,798	2,290	2,911
	Gross outflows	(2,077)	(2,025)	(2,049)	(1,665)	(2,075)	(2,382)	(2,122)
	Net flows	872	498	77	496	723	(92)	789
	Market / FX movements	1,994	(927)	(884)	1,653	(216)	934	2,544
	Closing AUM	34,761	34,332	33,525	35,674	36,181	37,023	40,356
	Mutual funds
	Opening AUM	27,544	30,133	29,738	29,215	31,170	31,418	32,268
	Gross inflows	2,747	2,432	2,031	2,077	2,473	2,241	2,769
	Gross outflows	(1,864)	(1,961)	(1,835)	(1,527)	(2,030)	(2,237)	(2,002)
	Net flows	883	471	196	549	443	4	767
	Market / FX movements	1,706	(866)	(719)	1,406	(195)	846	2,118
	Closing AUM	30,133	29,738	29,215	31,170	31,418	32,268	35,153
	Segregated mandates
	Opening AUM	3,558	3,749	3,737	3,409	3,527	3,775	3,754
	Gross inflows	175	65	69	75	314	48	142
	Gross outflows	(207)	(64)	(211)	(132)	(40)	(133)	(111)
	Net flows	(32)	1	(142)	(57)	274	(85)	31
	Market / FX movements	223	(13)	(186)	175	(26)	64	351
	Closing AUM	3,749	3,737	3,409	3,527	3,775	3,754	4,136
	Investment trusts
	Opening AUM	793	879	857	901	977	988	1,001
	Gross inflows	26	26	25	9	11	1	-
	Gross outflows	(5)	-	(2)	(5)	(5)	(12)	(9)
	Net flows	21	26	23	4	6	(11)	(9)
	Market / FX movements	65	(48)	21	72	5	24	75
	Closing AUM	879	857	901	977	988	1,001	1,067

 

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