Jupiter Fund Management (JUP) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 saw total net outflows of £1.6bn, with year-to-date net outflows reaching £5.0bn.

• Underlying flows were slightly net positive in Q3, excluding Value team and Chrysalis Investment Trust changes.

• Total assets under management (AUM) decreased to £50.1bn at 30 September 2024.

• Strategic focus continued with the acquisition of Origin Asset Management's team and £0.8bn AUM.

Financial highlights

• Net outflows of £1.6bn in Q3 2024, compared to £1.8bn in Q2 2024.

• Gross inflows of £3.9bn and gross outflows of £5.5bn in Q3 2024.

• Market returns contributed £0.4bn to AUM in Q3 2024.

• Retail, wholesale & investment trusts saw net outflows of £1.7bn; institutional net inflows of £0.1bn.

Outlook and guidance

• Most segregated mandates in the Value desk (£2.3bn of £4.9bn AUM) are expected to be redeemed by year end.

• Full year results for 2024 will be released on 27 February 2025.