REG - Jupiter Fund Mgmt - 1st Quarter Results

Jupiter Fund ManagementAnnouncement

23/04/2024 07:00

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RNS Number : 5849L  Jupiter Fund Management PLC  23 April 2024

 

Jupiter Fund Management plc

 

Trading Update and Notice of Results

 

23 April 2024

 

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading
update in respect of the three months to 31 March 2024.

 

Key points

·      Group assets under management (AUM) increased over the first
quarter to £52.6bn, driven by positive market movements of £2.0bn.

·      We had net outflows of £1.6bn, equally spread across both client
channels.

·      We generated underlying net inflows of £0.3bn, excluding
outflows related to strategies managed by the Value team and to the Chrysalis
Investment Trust.

Despite the ongoing challenging backdrop for active asset managers, AUM
increased in the first quarter of the year to £52.6bn, driven by £2.0bn of
positive market returns.

There were total net outflows of £1.6bn, with £0.8bn from each of the
retail, wholesale & investment trusts and institutional channels. These
figures include a £0.8bn outflow following the change in arrangements of the
management of the Chrysalis Investment Trust.

Also included within these outflows are £1.1bn of net redemptions from
strategies managed by the Value team, including £0.7bn from institutional
clients. At 31 March 2024, the team managed £7.5bn of externally-managed
assets, down from £8.5bn at 31 December 2023.

Excluding these movements, we generated underlying net inflows of £0.3bn.
These comprised £0.4bn net inflows in the retail, wholesale & investment
trusts channel and a £0.1bn outflow from the institutional channel.

 

 

Movement in AUM by client channel

 

     £bn                                            31 December  Q1 2024     Q1 2024          31 March

2023

2024
                                                                 net flows   market returns

and other
     Retail, wholesale & investment trusts          42.2         (0.8)       1.7              43.1
     Institutional                                  10.0         (0.8)       0.3              9.5
     Total                                          52.2         (1.6)       2.0              52.6
     of which is invested in mutual funds           38.1         (0.3)       1.3              39.1

 

 

Notice of results

 

Jupiter will be issuing Interim results for the period to 30 June 2024 on 26
July 2024 and will host an analyst presentation to discuss the results.

 

 

 For further information please contact:
                                          Investors                    Media

                                          Alex James                   Latika Shah

                                          Head of Investor Relations   Edelman Smithfield

                                          +44 (0)20 3817 1636          +44 (0)7950 671 948

 

 

LEI Number: 5493003DJ1G01IMQ7S28

 

Forward-looking statements

This announcement contains forward-looking statements with respect to the
financial condition, results of operations and businesses of the Group. Such
statements and forecasts involve risk and uncertainty because they relate to
events and depend upon circumstances in the future. There are a number of
factors that could cause actual results or developments to differ materially
from those expressed or implied by forward-looking statements and forecasts.
Forward-looking statements and forecasts are based on the Directors' current
view and information known to them at the date of this announcement. The
Directors do not make any undertaking to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. Nothing in this announcement should be construed as a profit
forecast.

 

Historic quarterly net flows and AUM

 

     Flows and AUM by quarter
                                                Q1 2023     Q2 2023     Q3 2023     Q4 2023     Q1 2024     Q2 2024     Q3 2024     Q4 2024

                                                £bn         £bn         £bn         £bn         £bn         £bn         £bn         £bn
     Total
     Opening AUM                                50.2        50.8        51.4        50.8        52.2
     Gross inflows                              3.2         4.5         2.4         3.1         3.7
     Gross outflows                             (4.1)       (3.6)       (3.4)       (4.3)       (5.3)
     Net flows                                  (0.9)       0.9         (1.0)       (1.2)       (1.6)
     Market returns                             1.5         (0.3)       0.4         2.6         2.0
     Closing AUM                                50.8        51.4        50.8        52.2        52.6

     Retail, wholesale & Investment trusts

     Opening AUM                                43.4        43.5        42.1        41.0        42.2
     Gross inflows                              2.8         2.7         2.1         2.3         3.5
     Gross outflows                             (3.8)       (3.4)       (3.1)       (3.6)       (4.3)
     Net flows                                  (1.0)       (0.7)       (1.0)       (1.3)       (0.8)
     Market returns                             1.1         (0.7)       (0.1)       2.5         1.7
     Closing AUM                                43.5        42.1        41.0        42.2        43.1

     Institutional

     Opening AUM                                6.8         7.3         9.3         9.8         10.0
     Gross inflows                              0.4         1.8         0.3         0.8         0.2
     Gross outflows                             (0.3)       (0.2)       (0.3)       (0.7)       (1.0)
     Net flows                                  0.1         1.6         -           0.1         (0.8)
     Market returns                             0.4         0.4         0.5         0.1         0.3
     Closing AUM                                7.3         9.3         9.8         10.0        9.5

 

 

 

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