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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Jupiter Fund Management plc    JUP   GB00B53P2009

JUPITER FUND MANAGEMENT PLC

(JUP)
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Jupiter Fund Management : first-half assets under management slip on virus impact

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07/30/2020 | 01:55am EDT

British money manager Jupiter Fund Management Plc on Wednesday posted an 8% fall in assets under management for the first half of the year, as risk sentiment soured after coronavirus-led lockdowns stoked fears of deep recession.

Total assets at the end of June were 39.2 billion pounds, down from 42.8 billion pounds at the end of December, but ahead of a company-compiled analyst consensus for 38.9 billion pounds. The firm saw net outflows of 2 billion during the six-month period ended June 30.

"Although we suffered a significant fall in AUM due to both outflows and markets in the first quarter of the year, the second quarter has seen a return to moderate inflows and a partial recovery in asset prices," said Andrew Formica, who took over as chief executive officer last year.

Formica added that the firm is targeting a payout ratio of around 50% of underlying earnings per share to shareholders and announced an unchanged interim dividend of 7.9 pence per share.

Pre-tax profit halved to 40.8 million pounds, way below a company-compiled analyst consensus estimate of 56.7 million pounds, as the asset manager was hit by a 208.6 million pound slide in net management fees from December.

Earlier this month, the asset manager completed its acquisition of smaller rival Merian Global Investors, announced just before the full impact of the pandemic hit markets.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu and Rashmi Aich)


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Financials
Sales 2020 378 M 489 M 489 M
Net income 2020 81,9 M 106 M 106 M
Net cash 2020 157 M 203 M 203 M
P/E ratio 2020 15,1x
Yield 2020 7,24%
Capitalization 1 265 M 1 639 M 1 638 M
EV / Sales 2020 2,94x
EV / Sales 2021 2,56x
Nbr of Employees 522
Free-Float 90,7%
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Technical analysis trends JUPITER FUND MANAGEMENT PLC
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Mean consensus HOLD
Number of Analysts 16
Average target price 258,75 GBX
Last Close Price 232,20 GBX
Spread / Highest target 49,9%
Spread / Average Target 11,4%
Spread / Lowest Target -13,9%
EPS Revisions
Managers
NameTitle
Andrew James Formica Chief Executive Officer & Director
Nichola Pease Non-Executive Chairman
Wayne Mepham Chief Financial Officer & Director
Edward Henry Bonham Carter Vice Chairman
Jonathon Roderick Alan Bond Senior Independent Director
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