Jupiter identifies further cost saving
Jupiter identifies £15m annualised cost savings to be implemented by end of 2026.
- Annualised cost savings target £15m
- Non-compensation costs 2025 (revised) £105m (prior £110m)
- Assets under management over £45bn
- Medium-term cost:income ratio target 70%
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Jupiter today announces an update to management expectations for operating costs, as a result of ongoing management actions.
Through our resolute focus on cost discipline, and consistent with our strategic objective of reducing undue complexity, we have identified further opportunities to deliver cost efficiencies.
The initial target is £15m annualised savings, which will be fully implemented on a run rate basis no later than the end of 2026. These annualised savings are in addition to the cost savings already achieved within the management expectations previously provided for 2025, and are one of a number of actions we are taking towards achieving our medium-term target of a 70% cost:income ratio.
Management expectations for non-compensation costs for 2025 have accordingly now improved from £110m to £105m. All other management expectations for 2025 remain unchanged from those published with our full year 2024 results on 28 February.
More details will be provided at the H1 2025 interim results on 25 July, along with further information on progress made towards our initial target.
Estimated group assets under management at 20 May 2025 were over £45bn. Net flows since the end of the first quarter have been broadly flat, with rebuilding of momentum in the institutional channel.
The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of the UK Market Abuse Regulations ("MAR").
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