REG - Jupiter Fund Mgmt - Jupiter identifies further cost saving

Jupiter Fund ManagementAnnouncement

22/05/2025 10:15

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RNS Number : 7871J  Jupiter Fund Management PLC  22 May 2025

Jupiter identifies further cost saving opportunities

 

Jupiter Fund Management plc (Jupiter or the Group)

 

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"). The person responsible for making this announcement is
Helen Archbold, Company Secretary.

 

For further information please contact:

 

                     Investors             Media

 Jupiter             Sam Fuschillo         Victoria Howley

                     +44 (0)20 3817 1530   +44 (0)20 3817 1657

 Edelman Smithfield  Hastings Tarrant      Andrew Wilde

                     +44 (0)7813 407 665   +44 (0)7786 022 022

 

LEI Number: 5493003DJ1G01IMQ7S28

 

 

Forward-looking statements

This announcement contains forward-looking statements with respect to the
financial condition, results of operations and businesses of the Group. Such
statements and forecasts involve risk and uncertainty because they relate to
events and depend upon circumstances in the future. There are a number of
factors that could cause actual results or developments to differ materially
from those expressed or implied by forward-looking statements and forecasts.
Forward-looking statements and forecasts are based on the Directors' current
view and information known to them at the date of this announcement. The
Directors do not make any undertaking to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. Nothing in this announcement should be construed as a profit
forecast.

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