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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 : posts 1 billion sterling in third-quarter outflows after Merian buy

10/16/2020 | 02:55am EST

LONDON (Reuters) - Jupiter Fund Management suffered one billion pounds ($1.29 billion) in net outflows in the third quarter, it said on Friday, hit by investor exits from recent purchase Merian.

Operational integration of the two asset managers was achieved by the end of the quarter, Jupiter said in a statement, lifting its assets under management by 42% to 55.7 billion pounds. Positive market moves over the quarter totalled 800 million pounds.

Net mutual fund outflows from Merian branded products were one billion pounds, Jupiter said, led by 400 million pounds of outflows from Merian's "systematic" strategy.

When the purchase of Merian was announced in February, the combined firm was set to have more than 65 billion pounds in assets under management, but the market slide sparked by COVID-19 and outflows at Merian have pushed that lower.

Veteran fund manager Richard Buxton joined Jupiter from Merian, which was carved out from the asset management arm of Old Mutual in 2018.

(Reporting by Carolyn Cohn; Editing by Rachel Armstrong)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
JUPITER FUND MANAGEMENT PLC -0.39% 258 Delayed Quote.-36.77%
OLD MUTUAL LIMITED -1.81% 11.96 End-of-day quote.-39.17%
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Financials
Sales 2020 378 M 503 M 503 M
Net income 2020 81,9 M 109 M 109 M
Net cash 2020 157 M 209 M 209 M
P/E ratio 2020 16,9x
Yield 2020 6,50%
Capitalization 1 411 M 1 875 M 1 881 M
EV / Sales 2020 3,32x
EV / Sales 2021 2,90x
Nbr of Employees 522
Free-Float 91,0%
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Mean consensus HOLD
Number of Analysts 16
Average target price 260,00 GBX
Last Close Price 259,00 GBX
Spread / Highest target 34,4%
Spread / Average Target 0,39%
Spread / Lowest Target -15,1%
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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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