Jupiter Fund Management (LON:JUP) (325p and 5.4% of JIC Portfolio) has issued a positive trading statement for the quarter ending 31st December 2012. For the year as a whole net fund inflows totalled £966m with £688m of that coming in the final quarter and taking total assets under management to £26.27bn. Market movements during the quarter accounted for £581m of the increase in assets. The most encouraging area has been the inflows into mutual funds which was strong in the second half of the year at £1.29bn.
Earnings are forecast to grow by about 10% in each of the next two years putting the shares on a PE ratio of 14.5x 2013 earnings and 13.2x 2014 and a prospective yield of 2.7% for 2013. Should markets continue to be buoyant upgrades to these forecasts should be in the offing. The shares are up 45% since purchase in August and whilst not so compellingly cheap are still worth holding on to unless one is of a more bearish disposition and think that markets will struggle to make further progress!
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About the Author
Johnrosier
I manage my subscription website www.JohnsInvestmentChronicle.com in which I show my portfolio and all transactions. I blog within an hour of trading, with an explanation, and send an alert email to all my subscribers. I do not pretend to have all the answers but I hope my portfolio, and the trades, provides food for thought as well as helping those who are new to managing their own portfolios.I think what I do is unique. There are plenty of tipsters out there who will remind you of the good ones and quietly forget the duffers; I do not have that luxury as the portfolio is there for all to see. I have to confront my mistakes and deal with them. A tipster also does not show how a tip fits into the context of an overall portfolio. My portfolio of up to 30 holdings has different holding sizes based on my conviction behind the stock and its risk. I set up www.JohnsInvestmentChronicle.com in January 2012. Prior to that :In September 1984, I left university with a degree in Zoology and started work in the City of London. Over the next twenty five years most of my time was spent managing UK equity portfolios with Fleming Investment Management and Henderson Global Investors, for company and local authority pension schemes as well as the reserve fund for a well known charity. During 2009 I left full time employment and decided to take time out to consider the next stage of my career. In the meantime I have been putting my years of experience to good use investing the family savings. I have thoroughly enjoyed the freedom of investing from home and despite some tricky periods during 2011 it has been a rewarding experience. more »
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