Interim Management Statement

Jupiter Fund Management plc

Q1 Interim Management Statement

19 April 2012

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its trading update in respect of the three months to 31 March 2012.

HIGHLIGHTS

§ Assets under management ("AUM") increased to £24.2 billion in the three months to 31 March 2012.

§ Net mutual fund inflows of £55m in the three months to 31 March 2012.

§ Hire of Distribution and Strategy Director.

Edward Bonham Carter, Chief Executive, commented:

"The market bounce in early 2012 led to an improvement in the retail net flow environment during the quarter, with limited net inflows into equity funds in the UK and Europe for the first time in nearly six months. These trends helped our mutual funds return to net inflow and, combined with strong market returns, total AUM increased to £24.2 billion at 31 March 2012."

ASSETS UNDER MANAGEMENT AND FLOWS

Equity investors experienced one of the best starts to the year in markets for a decade, leading to AUM increasing to £24.2 billion as at 31 March 2012.

After the continuation of Q4 2011's weak trading through January, improving investor sentiment led to a recovery in mutual fund flows and a positive contribution of £55 million across the entire quarter. However, the previously notified lower margin outflows within segregated mandates and private clients resulted in net outflows of £113 million overall. As previously disclosed, we expect the £570 million segregated mandate loss to take place during the second quarter.

CORPORATE UPDATE

On 30 March, we announced Maarten Slendebroek will join the Board as Executive Director responsible for Distribution and Strategy, subject to FSA approval. Maarten has extensive experience of running cross-border asset management operations from his 25-year career in the investment industry and will join Jupiter from BlackRock where he has worked for 18 years, most recently as Head of International Retail. He is expected to join Jupiter in the second half of 2012.

OUTLOOK

Consumer confidence remains fragile and industry flows vulnerable to any perceived increase in stock market volatility. However, we continue to believe in the long-term growth prospects for the savings market and remain focused on delivering strong fund performance for our clients and investing in our business to capitalise on these opportunities.

Forward-looking statements

This announcement contains forward-looking statements with respect to the financial condition, results and business of the Group. By their nature, forward-looking statements involve risk and uncertainty because they relate to events, and depend on circumstances, that will occur in the future. Jupiter's actual results may differ materially from the results expressed or implied in these forward-looking statements. Nothing in this announcement should be construed as a profit forecast.

Historic Flow and AUM data by quarter

1 As previously notified, hedge funds are now included within segregated mandates product category