Jupiter Fund Management identifies further £15m in cost-saving opportunities

(Sharecast News) - Jupiter Fund Management updated its expectations for operating costs on Thursday as it said it had identified a further £15m in cost-saving opportunities. The asset manager said the initial target of £15m annualised savings will be fully implemented on a run rate basis no later than the end of next year.

As a result, expectations for non-compensation costs for 2025 have improved from £110m to £105m.

All other management expectations for 2025 remain unchanged from those published with the full-year results in February.

Jupiter said more details will be provided at the interim results in July, along with further information on progress made towards its initial target.

As at 20 May, estimated group assets under management were over £45bn. Net flows since the end of the first quarter have been broadly flat, Jupiter said, with rebuilding of momentum in the institutional channel.