16 October 2020

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 30 September 2020.

HIGHLIGHTS

·      Acquisition of Merian Global Investors ("Merian") introduced £16.6bn of AUM on 1 July 2020, with operational integration achieved by 30 September 2020.

·      Net outflows in the quarter of £1.0bn, partially offset by £0.8bn of market returns.

·      AUM at 30 September 2020 of £55.7bn, an increase of £16.5bn in the quarter driven by the acquisition of Merian.

JUPITER GROUP

ASSETS UNDER MANAGEMENT AND FLOWS

Net outflows comprised £0.1bn of net inflows in Jupiter branded products offset by £1.0bn of net outflows in Merian branded products.

JUPITER BRANDED PRODUCTS

ASSETS UNDER MANAGEMENT AND FLOWS

Net mutual fund inflows within the Jupiter branded products were £0.3bn during the quarter, of which £0.9bn were from the Fixed Income strategy.

Segregated mandates saw £0.2bn of net outflows during the quarter. Inflows included the funding of the second client win through the strategic partnership with NZS Capital which was offset principally by outflows from two clients, one of which related to the resignation of a fund manager.

MERIAN BRANDED PRODUCTS

ASSETS UNDER MANAGEMENT AND FLOWS

Net mutual fund outflows within the Merian branded products were £1.0bn during the quarter of which £0.2bn were from the Global Equity Absolute Return fund, £0.4bn from the Systematic strategy and £0.1bn from funds where there was a change of fund manager relating to the acquisition.

The Global Equity Absolute Return fund ended the period with £1.1bn of AUM.

NOTICE OF RESULTS

Jupiter will be issuing results for the year ending 31 December 2020 on 26 February 2021 and will host an analyst presentation to discuss the results at 9:00am. At present, we expect the presentation to be held at The Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ. This is dependent on the UK government's applicable guidance at the time in respect of the coronavirus outbreak.

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.

¹ Q1 and Q2 2020 represent the AUM, flows and market returns of Merian prior to acquisition by the Group.

Jupiter Group

Proforma historic AUM and flows by quarter

² Q1 and Q2 2020 are proforma and include the AUM, flows and market returns of Merian prior to acquisition by the Group.

Net outflows for Q3 2020 resulting from changes of fund manager of £0.3bn principally relate to the Jupiter European Special Situations fund and related segregated mandate. Net outflows relating to fund manager changes in the proforma Q2 2020 flows relate to Merian branded products, with further outflows in Q3 2020, of which the majority was from one client. In addition, the Group has been notified of further outflows of £0.3bn from the Merian branded products in Q4 2020 associated with the change of fund manager.