TIDMJUP

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 GBP60.7bn, an increase of GBP0.4bn from 30 June 2021 and of GBP2.0bn from 31 December 2020.

-- Positive market movements of GBP1.0bn were partially offset by GBP0.6bn 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 GBP569m 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 GBP300m across our Fixed Income strategies. Global Sustainable Equities continued to perform well, attracting net inflows of almost GBP100m and reaching AUM of over GBP200m. 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.

 
   GBPm                        AUM at        Net flows    Market returns          AUM at 
                             30 June 2021                                    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)    Despina Constantinides 
                               +44 (0)20 3817 1636             (Media) 
                                                         +44 (0)20 3817 1278 
 
  Powerscourt                   Justin Griffiths             Gilly Lock 
                               +44 (0)20 7250 1446       +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    Q2 2020    Q3 2020    Q4 2020    Q1 2021    Q2 2021    Q3 2021    Q4 2021 
                              GBPm       GBPm       GBPm       GBPm       GBPm       GBPm       GBPm       GBPm 
 ======================  =========  =========  =========  =========  =========  =========  =========  ========= 
   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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October 15, 2021 02:00 ET (06:00 GMT)

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