TIDMJUP
RNS Number : 2844T
Jupiter Fund Management PLC
11 October 2017
Trading Update and Notice of Results
-------------------------------------
11 October 2017
Jupiter Fund Management plc ("Jupiter", the "Group") today
issues its trading update in respect of the three months to 30
September 2017.
HIGHLIGHTS
-- Positive mutual fund net inflows of GBP1.2bn in the quarter,
achieved across a range of different strategies and
geographies.
-- AUM closed at GBP48.4bn, a year-to-date increase of 19%.
Maarten Slendebroek, Chief Executive, commented:
"We are pleased to report another quarter of healthy flows
following on from a strong first half. Total net inflows were
GBP1.3bn, including GBP1.2bn of net inflows into our mutual funds
across a number of different investment strategies. The business
momentum from our pursuit of business diversification allied with
positive investment performance after fees has driven a 3% increase
in AUM over the quarter and a 19% increase since the beginning of
the year."
ASSETS UNDER MANAGEMENT AND FLOWS
30 June Market/FX 30 Sept
2017 Q3 net flows movement 2017
GBPm GBPm GBPm GBPm
==================== ======= ========================== ======================== =======
Mutual funds 40,930 1,245 144 42,319
==================== ======= ========================== ======================== =======
Segregated mandates 4,708 111 77 4,896
==================== ======= ========================== ======================== =======
Investment trusts 1,269 (13) (40) 1,216
==================== ======= ========================== ======================== =======
Total 46,907 1,343 181 48,431
==================== ======= ========================== ======================== =======
Total AUM increased during the quarter as a result of positive
inflows and investment returns in our mutual fund and segregated
mandate channels.
Net mutual fund inflows were GBP1.2bn during the third quarter,
with significant inflows principally within our Fixed Income
strategy as well as meaningful inflows into our European Growth, UK
Value, Absolute Return and Global Emerging Markets strategies,
partially offset by outflows in our Fund of Funds strategy.
Geographically, we saw net inflows across all regions, with Europe
and the UK the highest contributors.
In September, we launched the Jupiter Global Emerging Markets
Short Duration Bond fund. This further develops our
newly-established emerging market debt offering, following the
launch of the Jupiter Global Emerging Markets Corporate Bond fund
in March this year.
SUMMARY & OUTLOOK
The continued net inflows this year, underpinned by the delivery
of strong investment outperformance after all fees to investors,
affirm the confidence we have in our positioning as a high
conviction active asset manager. Our business model and drive
towards continued diversification by client type, product and
geographic reach has enabled us to continue growing our asset
base.
Looking towards the end of this year and onward into 2018, we
aim to build on the momentum we have seen to date. We believe that
diversification and investment in maintaining our scalable
operating model, supported by a strong and sustainable balance
sheet, provides resilience to our business. This approach leaves us
well-placed to deliver asset growth for our clients and value for
our shareholders.
NOTICE OF RESULTS
Jupiter will be issuing results for the period ended 31 December
2017 on 27 February 2018 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.
For further information Investors Media
please contact:
Jupiter Alex Sargent/Investor Alicia Wyllie
Relations +44 (0)20 3817 1638
+44 (0)20 3817 1534/1065
FTI Consulting Tom Blackwell Andrew Walton
+44 (0)20 3727 1051 +44 (0)20 3727 1514
LEI Number: 5493003DJ1G01IMQ7S28
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.
Historic flow and AUM data by quarter
--------------------------------------
Flows and AUM by
quarter
====================== =============== ======= ======= ======= ======= ======= ======= =======
Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
====================== =============== ======= ======= ======= ======= ======= ======= =======
Total
====================== =============== ======= ======= ======= ======= ======= ======= =======
Opening AUM 35,674 36,181 37,023 40,356 40,543 43,533 46,907
Gross inflows 2,798 2,290 2,911 2,603 3,981 4,799 3,801
Gross outflows (2,075) (2,382) (2,122) (2,976) (2,675) (2,540) (2,458)
Net flows 723 (92) 789 (373) 1,306 2,259 1,343
Market / FX movements (216) 934 2,544 560 1,684 1,115 181
Closing AUM 36,181 37,023 40,356 40,543 43,533 46,907 48,431
Mutual funds
====================== =============== ======= ======= ======= ======= ======= ======= =======
Opening AUM 31,170 31,418 32,268 35,153 35,216 37,986 40,930
Gross inflows 2,473 2,241 2,769 2,527 3,864 4,410 3,656
Gross outflows (2,030) (2,237) (2,002) (2,882) (2,462) (2,415) (2,411)
Net flows 443 4 767 (355) 1,402 1,995 1,245
Market / FX movements (195) 846 2,118 418 1,368 949 144
Closing AUM 31,418 32,268 35,153 35,216 37,986 40,930 42,319
Segregated mandates
====================== =============== ======= ======= ======= ======= ======= ======= =======
Opening AUM 3,527 3,775 3,754 4,136 4,244 4,394 4,708
Gross inflows 314 48 142 76 117 308 142
Gross outflows (40) (133) (111) (89) (210) (119) (31)
Net flows 274 (85) 31 (13) (93) 189 111
Market / FX movements (26) 64 351 121 243 125 77
Closing AUM 3,775 3,754 4,136 4,244 4,394 4,708 4,896
Investment trusts
====================== =============== ======= ======= ======= ======= ======= ======= =======
Opening AUM 977 988 1,001 1,067 1,083 1,153 1,269
Gross inflows 11 1 - - - 81 3
Gross outflows (5) (12) (9) (5) (3) (6) (16)
Net flows 6 (11) (9) (5) (3) 75 (13)
Market / FX movements 5 24 75 21 73 41 (40)
Closing AUM 988 1,001 1,067 1,083 1,153 1,269 1,216
This information is provided by RNS
The company news service from the London Stock Exchange
END
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