TIDMJUP
RNS Number : 5406B
Jupiter Fund Management PLC
11 January 2018
Trading Update and Notice of Results
-------------------------------------
11 January 2018
Jupiter Fund Management plc ("Jupiter", the "Group") today
issues its trading update in respect of the three months to 31
December 2017.
HIGHLIGHTS
-- Net inflows in the quarter of GBP0.6bn, resulting in a total
GBP5.5bn of net inflows in the year to 31 December 2017 (2016:
GBP1.0bn)
-- AUM at 31 December 2017 increased 24% in the year to
GBP50.2bn (31 December 2016: GBP40.5bn)
Maarten Slendebroek, Chief Executive, commented:
"This year has been one of consistent progress at Jupiter.
Continued strong investment performance has enabled us to deliver
positive returns after fees for clients. The successful
continuation of our strategy of diversification produced total net
inflows for the year of GBP5.5bn, including GBP5.1bn of net flows
into our mutual funds across a range of investment strategies.
These positive flows, which are underpinned by our ability to
deliver investment outperformance, have helped drive a 24% increase
in AUM over the year to GBP50.2bn at 31 December 2017."
ASSETS UNDER MANAGEMENT AND FLOWS
30 Sept Market/FX 31 Dec
2017 Q4 net flows movement 2017
GBPm GBPm GBPm GBPm
==================== ======= ===================== ============== ======
Mutual funds 42,319 458 968 43,745
==================== ======= ===================== ============== ======
Segregated mandates 4,896 157 155 5,208
==================== ======= ===================== ============== ======
Investment trusts 1,216 (45) 56 1,227
==================== ======= ===================== ============== ======
Total 48,431 570 1,179 50,180
==================== ======= ===================== ============== ======
Total AUM increased during the quarter as a result of positive
inflows and investment returns in our mutual fund and segregated
mandate channels.
Net mutual fund inflows were GBP0.5bn during the fourth quarter,
with inflows into our Absolute Return, Fixed Income and Multi Asset
strategies partially offset by outflows in our Fund of Funds
strategy. The segregated mandate channel also saw meaningful
inflows during the quarter. Geographically, net inflows continued
across all regions, with Continental Europe the highest
contributor.
Following new fund launches in March (Global Emerging Markets
Corporate Bond Fund), May (Emerging & Frontier Income Trust)
and September (Global Emerging Markets Short Duration Bond Fund),
the Global Levered Absolute Return Fund was launched in October,
further developing our Absolute Return offering and diversifying
the client base for this strategy. We also expanded our geographic
reach in the quarter, with flows from clients in Thailand and Latin
America.
In November the Dividend & Growth Trust was closed,
resulting in net outflows from the investment trust channel,
however a proportion of the clients chose to transfer into the UK
Growth Trust.
SUMMARY & OUTLOOK
The strong flows for 2017, underpinned by the delivery of strong
investment outperformance after all fees to investors, affirm the
confidence we have in our positioning as a high conviction active
asset manager. Our business model and further diversification by
client type, product and geographic reach has enabled us to
continue growing our asset base throughout the year.
In 2018 we aim to build on the momentum we have seen in 2017
with further business diversification alongside investment in
maintaining our operating model, supported by a strong and
sustainable balance sheet. This approach provides resilience to our
business and leaves us well-placed to deliver positive outcomes for
our clients and value for our shareholders.
NOTICE OF RESULTS
Jupiter will be issuing results for the period ended 31 December
2017 on 27 February 2018 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 Investors Media
please contact:
Jupiter Alex Sargent/Investor Kate O'Neill/Corporate
Relations Communications
+44 (0)20 3817 1534/1065 +44 (0)20 3817 1196/1278
FTI Consulting Tom Blackwell Andrew Walton
+44 (0)20 3727 1051 +44 (0)20 3727 1514
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
--------------------------------------
Flows and
AUM by
quarter
=========== =============== ======= ================= ======= =============== ======= ================== =======
Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
=========== =============== ======= ================= ======= =============== ======= ================== =======
Total
=========== =============== ======= ================= ======= =============== ======= ================== =======
Opening AUM 35,674 36,181 37,023 40,356 40,543 43,533 46,907 48,431
Gross
inflows 2,798 2,290 2,911 2,603 3,981 4,799 3,801 3,880
Gross
outflows (2,075) (2,382) (2,122) (2,976) (2,675) (2,540) (2,458) (3,310)
Net flows 723 (92) 789 (373) 1,306 2,259 1,343 570
Market / FX
movements (216) 934 2,544 560 1,684 1,115 181 1,179
Closing AUM 36,181 37,023 40,356 40,543 43,533 46,907 48,431 50,180
Mutual
funds
=========== =============== ======= ================= ======= =============== ======= ================== =======
Opening AUM 31,170 31,418 32,268 35,153 35,216 37,986 40,930 42,319
Gross
inflows 2,473 2,241 2,769 2,527 3,864 4,410 3,656 3,624
Gross
outflows (2,030) (2,237) (2,002) (2,882) (2,462) (2,415) (2,411) (3,166)
Net flows 443 4 767 (355) 1,402 1,995 1,245 458
Market / FX
movements (195) 846 2,118 418 1,368 949 144 968
Closing AUM 31,418 32,268 35,153 35,216 37,986 40,930 42,319 43,745
Segregated
mandates
=========== =============== ======= ================= ======= =============== ======= ================== =======
Opening AUM 3,527 3,775 3,754 4,136 4,244 4,394 4,708 4,896
Gross
inflows 314 48 142 76 117 308 142 231
Gross
outflows (40) (133) (111) (89) (210) (119) (31) (74)
Net flows 274 (85) 31 (13) (93) 189 111 157
Market / FX
movements (26) 64 351 121 243 125 77 155
Closing AUM 3,775 3,754 4,136 4,244 4,394 4,708 4,896 5,208
Investment
trusts
=========== =============== ======= ================= ======= =============== ======= ================== =======
Opening AUM 977 988 1,001 1,067 1,083 1,153 1,269 1,216
Gross
inflows 11 1 - - - 81 3 25
Gross
outflows (5) (12) (9) (5) (3) (6) (16) (70)
Net flows 6 (11) (9) (5) (3) 75 (13) (45)
Market / FX
movements 5 24 75 21 73 41 (40) 56
Closing AUM 988 1,001 1,067 1,083 1,153 1,269 1,216 1,227
This information is provided by RNS
The company news service from the London Stock Exchange
END
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