Information  X 
Enter a valid email address

Jupiter Fund Mgmt (JUP)

  Print      Mail a friend

Thursday 11 January, 2018

Jupiter Fund Mgmt

Trading Update

RNS Number : 5406B
Jupiter Fund Management PLC
11 January 2018
 

Trading Update and Notice of Results

 

11 January 2018

 

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 31 December 2017.

 

HIGHLIGHTS

 

§ Net inflows in the quarter of £0.6bn, resulting in a total £5.5bn of net inflows in the year to 31 December 2017 (2016: £1.0bn)

 

§ AUM at 31 December 2017 increased 24% in the year to £50.2bn (31 December 2016: £40.5bn)

 

Maarten Slendebroek, Chief Executive, commented:

 

"This year has been one of consistent progress at Jupiter. Continued strong investment performance has enabled us to deliver positive returns after fees for clients. The successful continuation of our strategy of diversification produced total net inflows for the year of £5.5bn, including £5.1bn of net flows into our mutual funds across a range of investment strategies. These positive flows, which are underpinned by our ability to deliver investment outperformance, have helped drive a 24% increase in AUM over the year to £50.2bn at 31 December 2017."

 

ASSETS UNDER MANAGEMENT AND FLOWS

 

 

 

 

 

 

 

 

 

 

30 Sept

 2017

£m

          Q4 net flows

   £m

Market/FX movement

£m

31 Dec

 2017

£m

 

 

Mutual funds

42,319

        458

       968

43,745

 

 

Segregated mandates

4,896

    157

           155 

5,208

 

 

Investment trusts

1,216

      (45)

         56

1,227

 

 

Total

48,431

 570

    1,179

50,180

 

 

 

 

 

 

 

 

 

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 £0.5bn during the fourth quarter, with inflows into our Absolute Return, Fixed Income and Multi Asset strategies partially offset by outflows in our Fund of Funds strategy. The segregated mandate channel also saw meaningful inflows during the quarter. Geographically, net inflows continued across all regions, with Continental Europe the highest contributor.

 

Following new fund launches in March (Global Emerging Markets Corporate Bond Fund), May (Emerging & Frontier Income Trust) and September (Global Emerging Markets Short Duration Bond Fund), the Global Levered Absolute Return Fund was launched in October, further developing our Absolute Return offering and diversifying the client base for this strategy. We also expanded our geographic reach in the quarter, with flows from clients in Thailand and Latin America.

 

In November the Dividend & Growth Trust was closed, resulting in net outflows from the investment trust channel, however a proportion of the clients chose to transfer into the UK Growth Trust.

                                                                                                   

SUMMARY & OUTLOOK

 

The strong flows for 2017, 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 further diversification by client type, product and geographic reach has enabled us to continue growing our asset base throughout the year.

 

In 2018 we aim to build on the momentum we have seen in 2017 with further business diversification alongside investment in maintaining our operating model, supported by a strong and sustainable balance sheet. This approach provides resilience to our business and leaves us well-placed to deliver positive outcomes 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 please contact:

 

Investors

Media

 

 

Jupiter

Alex Sargent/Investor Relations

+44 (0)20 3817 1534/1065

Kate O'Neill/Corporate Communications

+44 (0)20 3817 1196/1278

 

 

 

 

 

 

 

 

 

FTI Consulting

Tom Blackwell

+44 (0)20 3727 1051

Andrew Walton

+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

£m

Q2 2016

£m

Q3 2016

£m

Q4 2016

£m

Q1 2017

£m

Q2 2017

£m

Q3 2017

£m

Q4 2017

£m

 

 

Total

 

 

 

 

 

 

 

 

 

 

Opening AUM

35,674

36,181

37,023

40,356

40,543

43,533

46,907

48,431

 

 

Gross inflows

2,798

2,290

2,911

2,603

3,981

4,799

3,801

3,880

 

 

Gross outflows

(2,075)

(2,382)

(2,122)

(2,976)

(2,675)

(2,540)

(2,458)

(3,310)

 

 

Net flows

             723

(92)

789

(373)

           1,306

2,259

1,343

570

 

 

Market / FX movements

(216)

934

2,544

560

1,684

1,115

181

1,179

 

 

Closing AUM

36,181

37,023

40,356

40,543

43,533

46,907

 

48,431

50,180

 

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds

 

 

 

 

 

 

 

 

 

 

Opening AUM

31,170

31,418

32,268

35,153

35,216

37,986

40,930

42,319

 

 

Gross inflows

2,473

2,241

2,769

2,527

3,864

4,410

3,656

3,624

 

 

Gross outflows

(2,030)

(2,237)

(2,002)

(2,882)

(2,462)

(2,415)

(2,411)

(3,166)

 

 

Net flows

443

4

767

(355)

1,402

1,995

1,245

458

 

 

Market / FX movements

(195)

846

2,118

418

1,368

949

144

968

 

 

Closing AUM

31,418

32,268

35,153

35,216

37,986

40,930

42,319

43,745

 

 

 

 

 

 

 

 

 

 

 

 

 

Segregated mandates

 

 

 

 

 

 

 

 

 

 

Opening AUM

3,527

3,775

3,754

4,136

4,244

4,394

4,708

4,896

 

 

Gross inflows

314

48

142

76

117

308

142

231

 

 

Gross outflows

(40)

(133)

(111)

(89)

(210)

(119)

(31)

(74)

 

 

Net flows

274

(85)

31

(13)

(93)

189

111

157

 

 

Market / FX movements

(26)

64

351

121

243

 

125

77

155

 

 

Closing AUM

3,775

3,754

4,136

4,244

4,394

4,708

4,896

5,208

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment trusts

 

 

 

 

 

 

 

 

 

 

Opening AUM

977

988

1,001

1,067

1,083

1,153

1,269

1,216

 

 

Gross inflows

11

1

                 -

-

-

81

                  3

25

 

 

Gross outflows

(5)

(12)

(9)

(5)

(3)

(6)

(16)

(70)

 

 

Net flows

6

(11)

(9)

(5)

(3)

75

(13)

(45)

 

 

Market / FX movements

5

24

75

21

73

41

(40)

56

 

 

Closing AUM

988

1,001

1,067

1,083

1,153

1,269

1,216

1,227

 

 

 

 

 

 

 

 

 

 

 

 

 


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

a d v e r t i s e m e n t