Jupiter Fund Management trading statement: Further progress likely in 2013?
Jupiter Fund Management (LON:JUP) (325p and 5.4% of JIC Portfolio) has issued a positive trading statement for the quarter ending 31st December 2012. For the year as a whole net fund inflows totalled £966m with £688m of that coming in the final quarter and taking total assets under management to £26.27bn. Market movements during the quarter accounted for £581m of the increase in assets. The most encouraging area has been the inflows into mutual funds which was strong in the second half of the year at £1.29bn.
Earnings are forecast to grow by about 10% in each of the next two years putting the shares on a PE ratio of 14.5x 2013 earnings and 13.2x 2014 and a prospective yield of 2.7% for 2013. Should markets continue to be buoyant upgrades to these forecasts should be in the offing. The shares are up 45% since purchase in August and whilst not so compellingly cheap are still worth holding on to unless one is of a more bearish disposition and think that markets will struggle to make further progress!
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On 1st January 2012 I set up the JIC portfolio with £151,110 cash.Under "Transactions" you can see how it has been invested, "Portfolio" shows the current portfolio and my approach to investing is described under "About Me". A history of all my postings can be found under "Company Blogs". I… ...read more or visit website »
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Jupiter Fund Management plc is a holding company for a group of investment management companies. The Company and its subsidiaries offer a range of asset management products. Through its subsidiaries, the Company acts as investment manager to authorized unit trusts, SICAVs, investment trust companies, pension funds, private clients and other specialist funds. It focuses primarily on managing equity investments on behalf of retail, institutional and private client investors across a wide range of products, including United Kingdom and offshore mutual funds, segregated mandates and investment trusts. The Comnpany's product line included mutual funds, segregated mandates, private clients and investment trusts. It has offices in the United Kingdom, Bermuda, Germany, Jersey and Singapore. As of December 31, 2011, 26 mutual funds representing approximately 74% of mutual funds by assets under management (AUM). more »
