Jupiter Fund Management (JUP)

Sector:

Financials

Index:

FTSE 250

233.20p
   
  • Change Today:
    -3.20p
  • 52 Week High: 432.00p
  • 52 Week Low: 164.70p
  • Currency: UK Pounds
  • Shares Issued: 447.30m
  • Volume: 624,996
  • Market Cap: £1,043.10m

Jupiter Fund Management beats on first half revenues and profits

By Alexander Bueso

Date: Tuesday 30 Jul 2019

LONDON (ShareCast) - (Sharecast News) - Jupiter Fund Management saw its assets under management grow over the first half of the year, despite bigger than expected outflows, which helped the firm to deliver higher than expected earnings, its dividend payout underwhelmed.
For the six months to the end of June, the outfit saw AuM jump by roughly 8.0% versus a year ago to hit £45.9bn, even as it registered net outflows of £1.1bn (UBS: £0.6bn).

In parallel, profits before tax declined by 16% compared to a year earlier to £81.4m - as net management fees dropped 8% to £182,9m - and basic earnings per share at 15.1p were down by 13% (UBS: 13.9p), while net revenues delcined by 11% to £187.0m (UBS: £190.8m).

Newly arrived boss, Andrew Formica, highlighted what he saw the fund manager's core strengths, despite "challenging" industry conditions, including its top quartile investment performance over the past three years, higher AuM, and the "sharp" slowdown seen in outflows.

"Looking forward, we have a new management team in place with the ambition to get on the front foot and grow the business, without compromising our reputation for financial discipline," Formica said.

"This is underpinned by a clear five-year strategy which gives us renewed confidence in our future prospects."

Also on the outlook, the company said that "Jupiter has a robust capital position which supports the needs of its business and its dividend pay-out policy.

"We anticipate continued progression on cost reduction, but not at the expense of investment, which could ultimately deliver higher returns to our shareholders. Delivering growth through investment excellence remains our priority."

As of 0828 BST, shares of Jupiter Fund Management were 0.16% higher to 381.20p, after reaching an intra-session high of 388.0p.

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JUP Market Data

Currency UK Pounds
Share Price 233.20p
Change Today -3.20p
% Change -1.35 %
52 Week High 432.00p
52 Week Low 164.70p
Volume 624,996
Shares Issued 447.30m
Market Cap £1,043.10m

JUP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
80.35% above the market average80.35% above the market average80.35% above the market average80.35% above the market average80.35% above the market average
72.73% above the sector average72.73% above the sector average72.73% above the sector average72.73% above the sector average72.73% above the sector average
Price Trend
57.34% below the market average57.34% below the market average57.34% below the market average57.34% below the market average57.34% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average
Income
85.60% above the market average85.60% above the market average85.60% above the market average85.60% above the market average85.60% above the market average
75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average
Growth
88.32% below the market average88.32% below the market average88.32% below the market average88.32% below the market average88.32% below the market average
90% below the sector average90% below the sector average90% below the sector average90% below the sector average90% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 5
Sell 1
Strong Sell 5
Total 13
sell
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

JUP Dividends

  Latest Previous
  Final Interim
Ex-Div 12-Mar-20 08-Aug-19
Paid 09-Apr-20 28-Aug-19
Amount 9.20p 7.90p

Trades for 22-May-2020

Time Volume / Share Price
17:53 3,152 @ 233.00p
16:35 296,101 @ 233.20p
16:29 354 @ 232.80p
16:29 133 @ 232.80p
16:29 329 @ 232.80p

JUP Key Personnel

CEO Andrew Formica
CFO Wayne Mepham

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