Jupiter Fund Management Regulatory News (JUP)

Jupiter Fund Management plc

Trading Update and Notice of Results

Trading Update and Notice of Results

12 January 2017

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 31 December 2016.

HIGHLIGHTS

§ Cumulative net mutual fund inflows of £859m in the year to 31 December 2016, resulting in total AUM of £40.5bn (31 December 2015: £35.7bn).

§ Overall net outflows for the quarter of £373m, of which net mutual fund outflows were £355m.

Maarten Slendebroek, Chief Executive, commented:

"Overall, 2016 was positive for Jupiter. We continued to diversify our business by product, client type and geography and delivered strong investment performance after fees across a broad range of strategies. Net mutual fund flows for the year were positive at £0.9bn although in the fourth quarter we experienced net outflows of £0.4bn, including the repositioning of a large institutional client's mandate. The effects on Jupiter of wider market uncertainty during the year were muted, with positive flows contributing to a year on year increase in total AUM of 13%."

ASSETS UNDER MANAGEMENT AND FLOWS

Total AUM increased across the quarter as a result of market gains and investment performance more than offsetting net outflows.

Net mutual fund outflows were £355m during the fourth quarter, driven by institutional clients rebalancing their holdings in our Merlin and European strategies. Inflows to our Absolute Return and Fixed Income strategies remained strong and we saw promising inflows into our Emerging Markets strategy. Market gains in the quarter marginally offset net flows as global indices ended at or near record highs. For the year overall, the combination of net inflows and investment performance, as well as currency effects, led to mutual fund AUM increasing to £35.2bn as at 31 December 2016, an increase of 13%.

NOTICE OF RESULTS

Jupiter will be issuing its audited results for the period ended 31 December 2016 on 24 February 2017 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.

SUMMARY & OUTLOOK

2016 has been another positive year for Jupiter. Continued delivery of strong investment outperformance after all fees and net inflows, against a backdrop of market volatility and a variety of macro geopolitical events, affirm the confidence we have in our strategy of diversification by product and client type into areas offering potential for long-term growth.

We expect the current state of global political and economic uncertainty to continue to affect investor sentiment in 2017. We believe in the resilience of our business model, arising from our continued diversification supported by a strong and sustainable balance sheet. We will continue to invest in our operating model and focus on responding to regulatory change, leaving us well-placed to progress and to continue sharing the rewards of growth with our stakeholders.

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. 3