| 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
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30 June 2019 £m |
Q3 net flows £m |
Market/FX movement £m |
30 September 2019 £m |
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Mutual funds |
38,983 |
(956) |
434 |
38,461 |
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Segregated mandates |
5,568 |
(348) |
46 |
5,266 |
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Investment trusts |
1,357 |
(11) |
16 |
1,362 |
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Total |
45,908 |
(1,315) |
496 |
45,089 |
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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.
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For further information please contact: |
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Investors |
Media |
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Jupiter |
Alex Sargent/Investor Relations +44 (0)20 3817 1534/1065 |
Despina Constantinides/Corporate Communications +44 (0)20 3817 1196/1278 |
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Powerscourt |
Justin Griffiths +44 (0)20 7324 0496 |
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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.
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Historic flow and AUM data by quarter |
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Flows and AUM by quarter |
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Q1 2018 £m |
Q2 2018 £m |
Q3 2018 £m |
Q4 2018 £m |
Q1 2019 £m |
Q2 2019 £m |
Q3 2019 £m |
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Total |
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Opening AUM |
50,180 |
46,853 |
48,235 |
47,721 |
42,673 |
44,061 |
45,908 |
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Gross inflows |
3,224 |
3,154 |
2,760 |
2,784 |
3,259 |
3,280 |
4,014 |
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Gross outflows |
(4,474) |
(4,171) |
(3,593) |
(4,310) |
(3,741) |
(3,883) |
(5,329) |
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Net flows |
(1,250) |
(1,017) |
(833) |
(1,526) |
(482) |
(603) |
(1,315) |
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Market / FX movements |
(2,077) |
2,399 |
319 |
(3,522) |
1,870 |
2,450 |
496 |
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Closing AUM |
46,853 |
48,235 |
47,721 |
42,673 |
44,061 |
45,908 |
45,089 |
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Mutual funds |
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Opening AUM |
43,745 |
41,072 |
41,998 |
41,473 |
36,940 |
37,473 |
38,983 |
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Gross inflows |
3,093 |
3,051 |
2,600 |
2,379 |
2,697 |
3,034 |
3,017 |
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Gross outflows |
(4,022) |
(4,046) |
(3,373) |
(4,119) |
(3,688) |
(3,608) |
(3,973) |
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Net flows |
(929) |
(995) |
(773) |
(1,740) |
(991) |
(574) |
(956) |
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Market / FX movements |
(1,744) |
1,921 |
248 |
(2,793) |
1,524 |
2,084 |
434 |
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Closing AUM |
41,072 |
41,998 |
41,473 |
36,940 |
37,473 |
38,983 |
38,461 |
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Segregated mandates |
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Opening AUM |
5,208 |
4,614 |
4,961 |
4,901 |
4,577 |
5,348 |
5,568 |
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Gross inflows |
129 |
100 |
155 |
404 |
561 |
246 |
996 |
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Gross outflows |
(435) |
(117) |
(217) |
(186) |
(48) |
(269) |
(1,344) |
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Net flows |
(306) |
(17) |
(62) |
218 |
513 |
(23) |
(348) |
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Market / FX movements |
(288) |
364 |
2 |
(542) |
258 |
243 |
46 |
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Closing AUM |
4,614 |
4,961 |
4,901 |
4,577 |
5,348 |
5,568 |
5,266 |
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Investment trusts |
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Opening AUM |
1,227 |
1,167 |
1,276 |
1,347 |
1,156 |
1,240 |
1,357 |
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Gross inflows |
2 |
3 |
5 |
1 |
1 |
0 |
1 |
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Gross outflows |
(17) |
(8) |
(3) |
(5) |
(5) |
(6) |
(12) |
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Net flows |
(15) |
(5) |
2 |
(4) |
(4) |
(6) |
(11) |
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Market / FX movements |
(45) |
114 |
69 |
(187) |
88 |
123 |
16 |
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Closing AUM |
1,167 |
1,276 |
1,347 |
1,156 |
1,240 |
1,357 |
1,362 |
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