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
2023
|
Q1
2024
net
flows
|
Q1
2024
market
returns
and other
|
31 March
2024
|
|
|
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
Head of Investor
Relations
+44 (0)20 3817 1636
|
Latika Shah
Edelman Smithfield
+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
£bn
|
Q2 2023
£bn
|
Q3 2023
£bn
|
Q4 2023
£bn
|
Q1 2024
£bn
|
Q2 2024
£bn
|
Q3 2024
£bn
|
Q4 2024
£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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |