REG - Jupiter Fund Mgmt - Trading Update and Notice of Results

Jupiter Fund ManagementAnnouncement

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RNS Number : 2053B  Jupiter Fund Management PLC  21 April 2026

Jupiter Fund Management plc

 Trading Update and Notice of Results

21 April 2026

 

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading
update in respect of the three months to 31 March 2026.

 

Total assets under management (AUM) increased by 27% since year end to close
at £68.4bn, driven by the completion of the CCLA Investment Management (CCLA)
acquisition and another quarter of positive net inflows, partially offset by
the impact of geopolitical events on market levels in March 2026.

 

Key points:

·      Group AUM increased by £14.4bn over the quarter to close at a
reporting period-end record of £68.4bn.

 

·      During the period the Group completed the acquisition of CCLA,
introducing £15bn of AUM on the completion date of 2 February 2026.

 

·      We continued to generate positive net inflows, with £1.5bn in
the first quarter. Retail & Wholesale and Institutional client channels
generated £1.7bn of net inflows which, in line with our expectations, was
partly offset by small net outflows in CCLA managed strategies (excluding
Money Market Funds (MMFs)).

 

·      Although the first two months of the year saw strong positive
market movements and good flow momentum, this was inevitably impacted by
geopolitical events. Nonetheless, we are pleased to have generated small
positive net inflows in March across both the Retail & Wholesale and
Institutional client channels.

 

The positive momentum we saw through the latter half of 2025 continued into
the first quarter of 2026, despite the increasingly uncertain geopolitical
environment towards the end of the period. We generated total positive net
inflows of £1.5bn in the quarter.

 

January and February saw higher levels of client demand along with strong
market returns. Geopolitical events in the Middle East materially impacted
both markets and client risk appetite through March, although we still
generated positive net inflows in our Retail & Wholesale and Institutional
client channels in each month of the quarter.

 

Across the quarter, we saw ongoing momentum in the Retail & Wholesale
channel resulting in net inflows of £1.4bn. We also saw a return to positive
inflows in the Institutional client channel. Net inflows of £0.3bn from
Institutional clients were well diversified across five of our core investment
capabilities.

 

In line with our expectations, and as we highlighted at our full year 2025
results, we saw small outflows of £0.2bn from CCLA strategies (excluding
MMFs) in the first quarter(1).

 

From a capability perspective, four of our core investment capabilities
generated positive net inflows in the first quarter. Whilst there was ongoing
demand for Systematic equities, we also delivered continued positive net
inflows for Global equities, driven by Gold & Silver, and UK equities,
with flows into UK Dynamic strategies. Our European equities capability also
returned to positive net flow for the first time since 2018, with strong
investment performance from the recently joined team.

 

Market sentiment has clearly shifted materially in recent weeks in response to
geopolitical events. It is too early to tell if this represents a sustained
change in client appetite towards risk assets or whether it will be more
short-term and transitory. Despite the external environment, Jupiter remains
in a stronger position today than we have been for a number of years and, with
a broader, more diversified set of investment capabilities, are well-placed to
take advantage of the opportunities that lie ahead.

 

1. Note that given the potentially large and volatile nature of gross in- and
outflows, CCLA money market funds are excluded from our reporting of flows.
Their £4.1bn of AUM is, however, included in total CCLA AUM of £14.2bn.

 

 

Movement in AUM by client channel

 

     £bn                                            31 December  Q1 2026        Q1 2026     Q1 2026          31 March

2025

2026
                                                                 acquisitions   net flows   market returns

and other
     Retail, wholesale & investment trusts          44.6         -              1.4         (1.2)            44.8
     Institutional                                  9.4          -              0.3         (0.3)            9.4
     CCLA                                           -            15.0(1,2)      (0.2)(1)    (0.6)(1,3)       14.2(4)
     Total                                          54.0         15.0(1)        1.5(1)      (2.1)(1)         68.4

 

1. From completion of acquisition on 2 February 2026

2. Of which £4.2bn is in MMFs

3. Includes AUM movements of MMFs

4. Of which £4.1bn is in MMFs

 

 

Notice of results

 

Jupiter will be issuing Interim results for the period to 30 June 2026 on 23
July 2026 and will host an analyst presentation to discuss the results.

 

 For further information please contact:

                       Investors             Media
 Jupiter               Alex James            Victoria Howley

                       +44 (0)20 3817 1636   +44 (0)20 3817 1436

 Edelman Smithfield    Hastings Tarrant      Andrew Wilde

                       +44 (0)7813 407 665   +44 (0)7786 022 022

 

LEI Number: 5493003DJ1G01IMQ7S28

 

 

Forward-looking statements

 

This announcement may contain certain "forward-looking statements" with
respect to certain plans of Jupiter Fund Management plc (Jupiter) and its
current goals and expectations relating to its future financial condition,
performance, operations, results, business, strategy and objectives.
Statements containing the words "believes", "intends", "expects", "plans",
"seeks" and "anticipates", and words of similar meaning, are forward looking.

 

Forward-looking statements and forecasts are based on the Directors' current
view and information known to them at the date of this announcement. 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. By their nature, all forward-looking statements involve risk and
uncertainty because they relate to future events and circumstances which are
beyond Jupiter's control including, among other things, UK domestic and global
economic and business conditions; market-related risks such as fluctuations in
interest rates and exchange rates, and the performance of financial markets
generally; the policies and actions of regulatory authorities; the impact of
competition, inflation and deflation; the timing, impact and other
uncertainties of future acquisitions or combinations within relevant
industries; and the impact of changes in capital, solvency or accounting
standards, and tax and other legislation and regulations in the jurisdictions
in which Jupiter and its affiliates operate.

 

As a result, Jupiter's actual future financial condition, performance and
results may differ materially from the plans, goals and expectations set forth
in Jupiter's forward-looking statements. Jupiter undertakes no obligation to
update or revise any forward-looking statements contained in this presentation
or any other forward-looking statements it may make. Nothing in this
presentation should be construed as a profit forecast.

Historic quarterly net flows and AUM

 

 

     Flows and AUM by quarter
                                                Q1 2025     Q2 2025     Q3 2025     Q4 2025     Q1 2026                                 Q2 2026     Q3 2026     Q4 2026

                                                £bn         £bn         £bn         £bn         £bn                                     £bn         £bn         £bn
     Total
     Opening AUM                                45.3        44.3        47.1        50.4        54.0
     Gross inflows                              3.7         3.7         4.3         5.2         6.0
     Gross outflows                             (4.2)       (3.4)       (4.0)       (4.0)       (4.5)
     Net flows                                  (0.5)       0.3         0.3         1.2         1.5
     Acquisitions                               -           -           -           -           15.0
     Market returns and other                   (0.5)       2.5         3.0         2.4         (2.1)
     Closing AUM                                44.3        47.1        50.4        54.0        68.4

     Retail, wholesale & Investment trusts

     Opening AUM                                38.9        36.5        38.2        41.5        44.6
     Gross inflows                              2.4         2.9         3.5         5.0         5.4
     Gross outflows                             (3.9)       (3.2)       (2.7)       (3.7)       (4.0)
     Net flows                                  (1.5)       (0.3)       0.8         1.3         1.4
     Market returns and other                   (0.9)       2.0         2.5         1.8         (1.2)
     Closing AUM                                36.5        38.2        41.5        44.6        44.8

     Institutional

     Opening AUM                                6.4         7.8         8.9         8.9         9.4
     Gross inflows                              -           -           -           -                           0.0
     Gross outflows                             -           -           -           -           (0.2)
     Net flows                                  1.0         0.6         (0.5)       (0.1)       0.3
     Market returns                             0.4         0.5         0.5         0.6         (0.3)
     Closing AUM                                7.8         8.9         8.9         9.4         9.4

     CCLA

     Opening AUM                                -           -           -           -           -
     Gross inflows                              -           -           -           -                           0.0
     Gross outflows                             -           -           -           -           (0.2)
     Net flows                                  -           -           -           -           (0.2)
     Acquisitions                               -           -           -           -           15.0
     Market returns and other                   -           -           -           -           (0.6)
     Closing AUM                                -           -           -           -           14.2

 

 

 

 

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