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Jupiter Fund Mgmt (JUP)

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Friday 11 October, 2019

Jupiter Fund Mgmt

Trading Update and Notice of Results

RNS Number : 5474P
Jupiter Fund Management PLC
11 October 2019
 
Trading Update and Notice of Results

 

11 October 2019

 

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 30 September 2019.

 

HIGHLIGHTS

 

§  Net outflows in the quarter of £1.3bn.

§  AUM at 30 September 2019 of £45.1bn, a decrease of £0.8bn in the quarter.

 

 ASSETS UNDER MANAGEMENT AND FLOWS

 

 

 

 

 

 

 

 

 

 

30 June

 2019

£m

          Q3 net flows

                         £m

Market/FX movement

£m

30 September

 2019

£m

 

 

Mutual funds

38,983

(956)

434

38,461

 

 

Segregated mandates

5,568

(348)

46    

5,266

 

 

Investment trusts

1,357

(11)

16

1,362

 

 

Total

45,908

(1,315)

496

45,089

 

 

 

Net mutual fund outflows were £1.0bn during the quarter, of which £1.1bn outflows were from our European Growth strategy, principally within the UK and Continental Europe. Since our announcement on 1 July 2019, Alexander Darwall has pursued his intention to set up an independent firm and now intends to leave Jupiter in mid-November. The transfer of management responsibilities to Alexander's successors on the Jupiter European Fund and Jupiter European Growth SICAV took place on 1 October 2019.

 

Segregated mandates saw £0.3bn net outflows during the quarter. Within this, two clients withdrew assets totalling £0.7bn and two new mandates were opened in the period totalling £0.4bn.

 

The Flexible Macro (SICAV) and Global High Yield Short Duration Bond (SICAV) funds were launched during the quarter, adding to our Multi-Asset and Fixed Income strategies respectively. 

       

 NOTICE OF RESULTS

 

Jupiter will be issuing results for the year ending 31 December 2019 on 28 February 2020 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 please contact:

 

Investors

Media

 

 

Jupiter

Alex Sargent/Investor Relations

+44 (0)20 3817 1534/1065

Despina Constantinides/Corporate Communications

+44 (0)20 3817 1196/1278

 

 

 

 

 

 

 

 

 

Powerscourt

Justin Griffiths

+44 (0)20 7324 0496

 

 

 

           

 

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 2018

£m

Q2 2018

£m

Q3 2018

£m

Q4 2018

£m

Q1 2019

£m

Q2 2019

£m

Q3 2019

£m

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

Opening AUM

50,180

46,853

48,235

47,721

42,673

44,061

45,908

 

 

 

Gross inflows

3,224

3,154

2,760

2,784

3,259

3,280

4,014

 

 

 

Gross outflows

(4,474)

(4,171)

(3,593)

(4,310)

(3,741)

(3,883)

(5,329)

 

 

 

Net flows

         (1,250)

(1,017)

(833)

(1,526)

(482)

(603)

(1,315)

 

 

 

Market / FX movements

(2,077)

2,399

319

(3,522)

1,870

2,450

496

 

 

 

Closing AUM

46,853

48,235

47,721

42,673

44,061

45,908

45,089

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds

 

 

 

 

 

 

 

 

 

 

Opening AUM

43,745

41,072

41,998

41,473

36,940

37,473

38,983

 

 

 

Gross inflows

3,093

3,051

2,600

2,379

2,697

3,034

3,017

 

 

 

Gross outflows

(4,022)

(4,046)

(3,373)

(4,119)

(3,688)

(3,608)

(3,973)

 

 

 

Net flows

(929)

(995)

(773)

(1,740)

(991)

(574)

(956)

 

 

 

Market / FX movements

(1,744)

1,921

248

(2,793)

1,524

2,084

434

 

 

 

Closing AUM

41,072

41,998

41,473

36,940

37,473

38,983

38,461

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segregated mandates

 

 

 

 

 

 

 

 

 

 

Opening AUM

5,208

4,614

4,961

4,901

4,577

5,348

5,568

 

 

 

Gross inflows

129

100

155

404

561

246

996

 

 

 

Gross outflows

(435)

(117)

(217)

(186)

(48)

(269)

(1,344)

 

 

 

Net flows

(306)

(17)

(62)

218

513

(23)

(348)

 

 

 

Market / FX movements

(288)

364

2

(542)

258

243

46

 

 

 

Closing AUM

4,614

4,961

4,901

4,577

5,348

5,568

5,266

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment trusts

 

 

 

 

 

 

 

 

 

 

Opening AUM

1,227

1,167

1,276

1,347

1,156

1,240

1,357

 

 

 

Gross inflows

                  2

3

    5

1

1

0

1

 

 

 

Gross outflows

(17)

(8)

(3)

(5)

(5)

(6)

(12)

 

 

 

Net flows

(15)

(5)

2

(4)

(4)

(6)

(11)

 

 

 

Market / FX movements

(45)

114

69

(187)

88

123

16

 

 

 

Closing AUM

1,167

1,276

1,347

1,156

1,240

1,357

1,362

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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