Jupiter Fund Management Regulatory News (JUP)

Trading Update

12 October 2015

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 30 September 2015.

HIGHLIGHTS

§ Assets under management ("AUM") of £33.5 billion as at 30 September 2015.

§ Net mutual fund inflows of £196 million in the three months to 30 September 2015.

§ Cumulative net mutual fund inflows of £1.6 billion in the nine months to 30 September 2015.

Maarten Slendebroek, Chief Executive, commented:

"I'm pleased that our mutual fund franchise again delivered positive net flows this quarter despite a difficult market backdrop, benefiting from the continued delivery of our strategy to diversify by product, client type and geography. This has led to cumulative net mutual fund flows of £1.6 billion over the first nine months of 2015, resulting in AUM increasing by five per cent. this year to £33.5 billion despite recent market falls."

ASSETS UNDER MANAGEMENT AND FLOWS

Net mutual fund inflows were £196 million during the third quarter, with top selling funds including our European equity strategies and Dynamic Bond. Despite significant volatility and declines in markets over the period, net inflows and strong relative investment performance resulted in mutual funds AUM being maintained at over £29 billion at 30 September 2015. Overall net inflows for the quarter were £77 million, held back by top-slicing on segregated mandates where significant outperformance has been delivered to clients, resulting in total AUM at 30 September 2015 of £33.5 billion.

CORPORATE UPDATE

During Q4, the Group plans to simplify its SICAV funds' fee structure by introducing an aggregated operating expense fee. This will replace the current arrangement where our SICAV investors are subject to variable operating expenses and, as a result, the Group will take on associated costs which are currently borne by the SICAV funds. This change is in line with Luxembourg industry market practice and will provide clients with a fixed bp rate, standardised across similar funds and share classes within our SICAV range. Further details will be provided once this has been approved by regulators.

SUMMARY

2015 has seen continued strong delivery at Jupiter across all our key metrics. We believe our growth strategy and chosen markets have further room for expansion over time. We intend to access these opportunities in the same disciplined manner, choosing to grow organically in those areas where we have a high degree of confidence in our eventual success, whilst ensuring we always maintain the quality of our investment franchise.

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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Note:

Jupiter sold its private clients and charities contracts to Rathbones Investment Management Limited on 26 September 2014. As a result of this transaction, 30% of this line's AUM was reclassified into other categories at that date as those assets were still managed by the Group after the sale.