Interim Management Statement

Jupiter Fund Management plc

Q3 Interim Management Statement

18 October 2012

Jupiter Fund Management plc ("Jupiter", the "Group") today issues its interim management statement in respect of the three months to 30 September 2012.

HIGHLIGHTS

§ Assets under management ("AUM") increased to £25.0 billion in the three months to 30 September 2012.

§ Net mutual fund inflows of £795 million in the three months to 30 September 2012.

§ Cumulative net mutual fund inflows of £1.1 billion in the nine months to 30 September 2012.

Edward Bonham Carter, Chief Executive, commented:

"During the difficult flow environment in the first half of the year, we continued to position the business for growth. It was therefore pleasing to see an acceleration in mutual fund inflows to £795 million in the third quarter, resulting in record AUM of £25 billion."

ASSETS UNDER MANAGEMENT AND FLOWS

Although industry conditions remained challenging, Jupiter delivered significantly improved net mutual fund flows of £795 million in the third quarter. Our strong investment performance, recognised brand and international distribution reach helped drive this improvement in both the UK and Europe. Inflows were predominantly into funds positioned towards the cautious end of the risk spectrum, such as Merlin Income, Strategic Bond and Global Convertibles, supported by several large deals. These flows, together with improved market levels, led to mutual funds AUM increasing to £19.7 billion at 30 September 2012.

Overall net inflows for the quarter were £579 million, held back by the loss of a UK equity segregated mandate and the remainder of a large private client portfolio, following the withdrawal in Q1 of the first half of their assets. Driven by mutual funds, cumulative overall net flows have now moved positive for the year to date and total £277 million for the nine months to 30 September 2012.

OUTLOOK

While mutual funds flows have improved, we remain cautious looking forward given fragile consumer confidence and industry flows remaining vulnerable to any increase in stock market volatility. However, we continue to believe in the long-term growth prospects for the savings market and will continue to focus on delivering outperformance for our clients and investing in our distribution capabilities to take advantage of these trends.

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.

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