Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Jupiter Fund Mgmt (JUP)

  Print      Mail a friend

Friday 14 October, 2011

Jupiter Fund Mgmt

Interim Management Statement

RNS Number : 1680Q
Jupiter Fund Management PLC
14 October 2011
 



Jupiter Fund Management Plc

Q3 Interim Management Statement

 

Interim Management Statement

 

 

14 October 2011

 

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its interim management statement in respect of the three months to 30 September 2011.

 

HIGHLIGHTS

 

§ Net inflows of £295 million in the three months to 30 September 2011.

§ Cumulative net inflows of £971 million in the nine months to 30 September 2011.

§ Assets under management ("AUM") decreased to £22.3 billion in the three months to 30 September 2011.

§ £60 million reduction in bank debt.

 

Edward Bonham Carter, Chief Executive, commented:

 

"Jupiter continued to make progress in the third quarter, recording net inflows of £295 million despite one of the worst quarters for equity markets in the last decade and reduced risk appetite from retail investors, particularly in Europe. Our balance sheet position also continues to strengthen, allowing us to announce a substantial debt repayment."

 

ASSETS UNDER MANAGEMENT AND FLOWS

 

 

 

 

 

 

 

 

AUM by product

 

 

 

 

 

 

 

30 June 2011

£m

Q3 net flows

£m

Market movement

£m

30 September
 2011

£m

 


Mutual funds

18,925

(36)

(2,126)

16,763



Segregated mandates

3,470

280

(441)

3,309



Private clients

1,760

62

(145)

1,677



Investment trusts

550

0

(61)

489



Hedge funds

78

(11)

(6)

61



Total

24,783

295

(2,779)

22,299









 

Jupiter achieved net inflows of £295 million during the period despite an £85 millon outflow from exiting our private equity business, as discussed in the Half Yearly results. These predominantly came from net inflows of £280 million into segregated mandates, where a specialist equity mandate win and a sub-advised Indian fund launched into Taiwan offset the private equity outflow.  Within mutual funds, continued inflows from our UK distribution channels were offset by the impact of the difficult flow environment in continental Europe, resulting in modest net outflows overall of £36 million during the quarter.

 

Jupiter's AUM proved resilient in the face of significant declines for world equity markets during the quarter. While the FTSE All World Index fell 16 per cent over the period and the FTSE 100 had its worst quarter for nine years, falling 14 per cent. from 5,946 to 5,128, Jupiter's AUM declined 10 per cent. from £24.8 billion as at 30 June 2011 to £22.3 billion as at 30 September 2011.

 

CORPORATE UPDATES

 

The board has authorised a £60 million partial repayment of the bank loan facility. This repayment will be made on 31 October 2011, reducing the gross balance outstanding on the bank loan facility to £143 million. 

 

OUTLOOK

 

Volatile markets continue to impact on investor confidence and flows across the asset management sector, particularly in Europe. Despite this, we continue to believe in the long-term growth prospects for the savings market and our ability to access these opportunities on behalf of investors and shareholders.

 

 

 

 

 

 

 

For further information please contact:


Investors

Media



Jupiter

Philip Johnson

+44 (0)20 7314 4807

Alicia Wyllie

+44 (0)20 7314 5573

 

 

 


FTI Consulting

Ed Gascoigne-Pees

+44 (0)20 7269 7132

Andrew Walton

+44 (0)20 7269 7204


 

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 2010

£m

Q2 2010

£m

Q3 2010

£m

Q4 2010

£m

Q1 2011

£m

Q2 2011

£m

Q3 2011

£m

Q4 2011

£m

 


Total

 

 

 

 

 

 

 

 



Opening AUM

19,522

21,093

19,844

22,172

24,078

24,453

24,783

 

 


Gross inflows

1,551

1,552

1,740

1,912

1,619

1,541

1,653

 

 


Gross outflows

(1,042)

(1,247)

(1,006)

(1,140)

(1,286)

(1,198)

(1,358)

 

 


Net Flows

509

305

734

772

333

343

295

 

 


Market / FX movements

1,062

(1,554)

1,594

1,134

42

(13)

(2,779)

 

 


Closing AUM

21,093

19,844

22,172

24,078

24,453

24,783

22,299

 

 


 

 

 

 

 


 

 

 

 


Mutual funds

 

 

 

 


 

 

 

 


Opening AUM

14,692

15,982

15,247

16,897

18,418

18,715

18,925

 

 


Gross inflows

1,390

1,332

1,249

1,559

1,493

1,272

1,120

 

 


Gross outflows

(959)

(890)

(765)

(1,030)

(1,096)

(1,012)

(1,156)

 

 


Net Flows

431

442

484

529

397

260

(36)

 

 


Market / FX movements

859

(1,177)

1,165

992

(100)

(50)

(2,126)

 

 


Closing AUM

15,982

15,247

16,897

18,418

18,715

18,925

16,763

 

 



 

 

 

 


 

 

 

 


Segregated mandates

 

 

 

 


 

 

 

 


Opening AUM

2,754

2,966

2,493

2,988

3,259

3,305

3,470

 

 


Gross inflows

119

164

425

274

47

155

438

 

 


Gross outflows

(54)

(298)

(215)

(32)

(118)

(27)

(158)

 

 


Net Flows

65

(134)

210

242

(71)

128

280

 

 


Market / FX movements

147

(339)

285

29

117

37

(441)

 

 


Closing AUM

2,966

2,493

2,988

3,259

3,305

3,470

3,309

 

 



 

 

 

 


 

 

 

 


Private clients

 

 

 

 


 

 

 

 


Opening AUM

1,355

1,431

1,417

1,576

1,693

1,702

1,760

 

 


Gross inflows

20

47

61

44

72

99

95

 

 


Gross outflows

(10)

(11)

(8)

(22)

(65)

(50)

(33)

 

 


Net Flows

10

36

53

22

7

49

62

 

 


Market / FX movements

66

(50)

106

95

2

9

(145)

 

 


Closing AUM

1,431

1,417

1,576

1,693

1,702

1,760

1,677

 

 



 

 

 

 


 

 

 

 


Investment trusts

 

 

 

 


 

 

 

 


Opening AUM

546

538

505

549

527

549

550

 

 


Gross inflows

0

0

0

0

0

0

0

 

 


Gross outflows

0

0

0

(46)

0

0

0

 

 


Net Flows

0

0

0

(46)

0

0

0

 

 


Market / FX movements

(8)

(33)

44

24

22

1

(61)

 

 


Closing AUM

538

505

549

527

549

550

489

 

 



 

 

 

 


 

 

 

 


Hedge funds

 

 

 

 


 

 

 

 


Opening AUM

175

176

181

162

181

182

78

 

 


Gross inflows

22

9

5

34

7

15

0

 



Gross outflows

(19)

(48)

(18)

(9)

(7)

(109)

(11)

 



Net Flows

3

(39)

(13)

25

0

(94)

(11)

 



Market / FX movements

(2)

44

(6)

(6)

1

(10)

(6)

 



Closing AUM

176

181

162

181

182

78

61

 



 

 

 

 

 

 

 

 

 


 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IMSDXLFFFBFBFBZ