Last checked at 10 Jan 2019 07:00
Jupiter Fund Management plc
Trading Update and Notice of Results
10 January 2019
Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 31 December 2018.
HIGHLIGHTS
§ Net outflows in the quarter of £1.5bn.
§ AUM at 31 December 2018 of £42.7bn, a reduction of £5.0bn in the quarter of which £3.5bn was driven by market decline.
ASSETS UNDER MANAGEMENT AND FLOWS
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| 30 September 2018 £m | Q4 net flows £m | Market/FX movement £m | 31 December 2018 £m |
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| Mutual funds | 41,473 | (1,740) | (2,793) | 36,940 |
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| Segregated mandates | 4,901 | 218 | (542) | 4,577 |
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| Investment trusts | 1,347 | (4) | (187) | 1,156 |
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| Total | 47,721 | (1,526) | (3,522) | 42,673 |
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Net mutual fund outflows were £1.7bn during the quarter, £1.3bn of which were from our Fixed Income strategy, principally in Continental Europe and the UK.
Segregated mandates saw a £0.2bn net inflow during the quarter from clients adding to their positions in existing portfolios.
The US Equity Long Short (SICAV) Fund was launched in the quarter adding to our Liquid Alternatives offering. The US Small & Midcap Companies (UT) Fund was closed in the quarter contributing £12m to net outflows.
NOTICE OF RESULTS
Jupiter will be issuing results for the period ended 31 December 2018 on 1 March 2019 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:
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Investors |
Media |
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| Jupiter | Alex Sargent/Investor Relations +44 (0)20 3817 1534/1065 | Kate O'Neill/Corporate Communications +44 (0)20 3817 1196/1278 |
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| Powerscourt | Justin Griffiths +44 (0)20 7549 0999 | Matthew Attwood +44 (0)20 3328 9383 |
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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.
Historic flow and AUM data by quarter
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| Flows and AUM by quarter |
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| Q1 2017 £m | Q2 2017 £m | Q3 2017 £m | Q4 2017 £m | Q1 2018 £m | Q2 2018 £m | Q3 2018 £m | Q4 2018 £m |
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| Total |
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| Opening AUM | 40,543 | 43,533 | 46,907 | 48,431 | 50,180 | 46,853 | 48,235 | 47,721 |
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| Gross inflows | 3,981 | 4,799 | 3,801 | 3,880 | 3,224 | 3,154 | 2,760 | 2,784 |
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| Gross outflows | (2,675) | (2,540) | (2,458) | (3,310) | (4,474) | (4,171) | (3,593) | (4,310) |
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| Net flows | 1,306 | 2,259 | 1,343 | 570 | (1,250) | (1,017) | (833) | (1,526) |
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| Market / FX movements | 1,684 | 1,115 | 181 | 1,179 | (2,077) | 2,399 | 319 | (3,522) |
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| Closing AUM | 43,533 | 46,907
| 48,431 | 50,180 | 46,853 | 48,235 | 47,721 | 42,673 |
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| Mutual funds |
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| Opening AUM | 35,216 | 37,986 | 40,930 | 42,319 | 43,745 | 41,072 | 41,998 | 41,473 |
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| Gross inflows | 3,864 | 4,410 | 3,656 | 3,624 | 3,093 | 3,051 | 2,600 | 2,379 |
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| Gross outflows | (2,462) | (2,415) | (2,411) | (3,166) | (4,022) | (4,046) | (3,373) | (4,119) |
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| Net flows | 1,402 | 1,995 | 1,245 | 458 | (929) | (995) | (773) | (1,740) |
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| Market / FX movements | 1,368 | 949 | 144 | 968 | (1,744) | 1,921 | 248 | (2,793) |
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| Closing AUM | 37,986 | 40,930 | 42,319 | 43,745 | 41,072 | 41,998 | 41,473 | 36,940 |
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| Segregated mandates |
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| Opening AUM | 4,244 | 4,394 | 4,708 | 4,896 | 5,208 | 4,614 | 4,961 | 4,901 |
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| Gross inflows | 117 | 308 | 142 | 231 | 129 | 100 | 155 | 404 |
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| Gross outflows | (210) | (119) | (31) | (74) | (435) | (117) | (217) | (186) |
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| Net flows | (93) | 189 | 111 | 157 | (306) | (17) | (62) | 218 |
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| Market / FX movements | 243
| 125 | 77 | 155 | (288) | 364 | 2 | (542) |
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| Closing AUM | 4,394 | 4,708 | 4,896 | 5,208 | 4,614 | 4,961 | 4,901 | 4,577 |
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| Investment trusts |
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| Opening AUM | 1,083 | 1,153 | 1,269 | 1,216 | 1,227 | 1,167 | 1,276 | 1,347 |
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| Gross inflows | - | 81 | 3 | 25 | 2 | 3 | 5 | 1 |
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| Gross outflows | (3) | (6) | (16) | (70) | (17) | (8) | (3) | (5) |
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| Net flows | (3) | 75 | (13) | (45) | (15) | (5) | 2 | (4) |
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| Market / FX movements | 73 | 41 | (40) | 56 | (45) | 114 | 69 | (187) |
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| Closing AUM | 1,153 | 1,269 | 1,216 | 1,227 | 1,167 | 1,276 | 1,347 | 1,156 |
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