Trading Update and Notice of Results

RNS Number : 1611P
Jupiter Fund Management PLC
15 October 2021
 

Trading Update and Notice of Results

 

 

15 October 2021

 

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 30 September 2021.

 

 

Highlights

 

· Assets under management (AUM) closed the period at £60.7bn, an increase of £0.4bn from 30 June 2021 and of £2.0bn from 31 December 2020.

· Positive market movements of £1.0bn were partially offset by £0.6bn of net outflows, primarily in the first month of the quarter.

· Positive net inflows across Fixed Income and in a number of key growth funds, including Global Sustainable Equities, were offset by ongoing weaker demand for UK and European equity products as well as outflows from Systematic strategies.

 

 

Net outflows of £569m were primarily driven by net redemptions from mutual funds and continued weaker client demand for UK and European equity strategies. We also saw outflows from our Merlin range and our Systematic strategies, predominantly the North American equity fund and a reversal of flows into the Global Equity Absolute Return fund.

 

These outflows were partially offset by inflows of over £300m across our Fixed Income strategies. Global Sustainable Equities continued to perform well, attracting net inflows of almost £100m and reaching AUM of over £200m. A number of other funds which we previously identified as future growth drivers also saw positive net inflows in the quarter, including Gold & Silver and Global Emerging Markets Short Duration Bond.

 

 

 

£m

 

AUM at

30 June 2021

Net flows

Market returns

AUM at

30 September 2021

 

 

Mutual funds

 

50,802

(475)

859

51,186

 

 

Segregated mandates

 

8,318

(94)

90

8,314

 

 

Investment trusts

 

1,202

-

34

1,236

 

 

Total

 

60,322

(569)

983

60,736

 

 

Notice of results

 

Jupiter will be issuing full year results for the year to 31 December 2021 on 25 February 2022 and will host an analyst presentation to discuss the results. The format of the results presentation will be determined closer to the time based on the latest health and safety guidance and further 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 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 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

58,794

60,322

 

 

 

Acquisition

-

-

16,639

-

-

-

-

 

 

 

Gross inflows

4,065

3,075

4,422

4,903

5,380

4,201

3,431

 

 

 

Gross outflows

(6,383)

(2,770)

(5,375)

(5,909)

(6,156)

(5,694)

(4,000)

 

 

 

Net flows

(2,318)

305

(953)

(1,006)

(776)

(1,493)

(569)

 

 

 

Market returns

(5,528)

3,918

800

4,045

837

3,021

983

 

 

 

Closing AUM

34,985

39,208

55,694

58,733

58,794

60,322

60,736

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds

 

 

 

 

 

 

 

 

 

 

Opening AUM

37,692

30,671

34,264

48,258

49,871

49,310

50,802

 

 

 

Acquisition

-

-

13,970

-

-

-

-

 

 

 

Gross inflows

3,353

2,823

4,057

4,048

4,524

3,881

3,214

 

 

 

Gross outflows

(6,244)

(2,603)

(4,803)

(5,380)

(5,372)

(4,736)

(3,689)

 

 

 

Net flows

(2,891)

220

(746)

(1,332)

(848)

(855)

(475)

 

 

 

Market returns

(4,130)

3,373

770

2,945

287

2,347

859

 

 

 

Closing AUM

30,671

34,264

48,258

49,871

49,310

50,802

51,186

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segregated mandates

 

 

 

 

 

 

 

 

 

 

Opening AUM

4,811

4,084

4,668

6,784

7,970

8,332

8,318

 

 

 

Acquisition

-

-

2,375

-

-

-

-

 

 

 

Gross inflows

712

252

365

782

596

317

217

 

 

 

Gross outflows

(137)

(164)

(562)

(527)

(745)

(754)

(311)

 

 

 

Net flows

575

88

(197)

255

(149)

(437)

(94)

 

 

 

Market returns

(1,302)

496

(62)

931

511

423

90

 

 

 

Closing AUM

4,084

4,668

6,784

7,970

8,332

8,318

8,314

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment trusts

 

 

 

 

 

 

 

 

 

 

Opening AUM

328

230

276

652

892

1,152

1,202

 

 

 

Acquisition

-

-

294

-

-

-

-

 

 

 

Gross inflows

0

0

0

73

260

3

0

 

 

 

Gross outflows

(2)

(3)

(10)

(2)

(39)

(204)

0

 

 

 

Net flows

(2)

(3)

(10)

71

221

(201)

0

 

 

 

Market returns

(96)

49

92

169

39

251

34

 

 

 

Closing AUM

230

276

652

892

1,152

1,202

1,236

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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