Jupiter Fund Management PLC Delivered strong fund performance with 77% of mutual fund AUM above median

[shareaholic app="share_buttons" id_name="post_below_content"]

Jupiter Fund Management PLC (LON:JUP) Results for the year ended 31 December 2018

· Strong investment performance, with 77% of mutual fund AUM above median over three years

· Fall of £7.5bn in AUM, including net outflows of £4.6bn

· Net management fees1 increased marginally to £395.7m

· Underlying earnings per share1 decreased by 2.5p to 31.7p

· Basic earnings per share decreased to 31.8p

· Profit before tax decreased by £13.7m to £179.2m

· 90% of underlying earnings returned to shareholders, giving total dividends per share of 28.5p

Year ended 31 December 2018	Year ended 31 December 2017	% change
	Assets under management (AUM) (£bn)		42.7	50.2	-15%
	Net (outflows)/inflows (£bn)		(4.6)	5.5
	Net management fees¹ (£m)		395.7	392.4	+1%
	Profit before tax (£m)		179.2	192.9	-7%
	Underlying earnings per share¹ (p)		31.7	34.2	-7%
	Total dividends per share (p)		28.5	32.6	-13%
	Adjusted cost/income ratio¹		55%	54%	+1%

Maarten Slendebroek, Jupiter Fund Management Chief Executive, commented:

“With market volatility continuing during the year, it was encouraging to see that our strategy of diversification underpinned solid business performance for the period. Most pleasing is that we delivered strong fund performance for our clients during the year with 77% of our mutual fund assets under management outperforming the median over three years. As reported throughout the year we saw net outflows, primarily in our fixed income strategy which impacted closing AUM. Gross sales remained strong as we saw client demand for active asset management continue. Our robust capital position means that 90% of underlying earnings will be returned to shareholders through a total dividend of 28.5p.”

You might also enjoy reading Jupiter Fund Management PLC 30.4% potential upside indicated by Deutsche