Jupiter Asset Management may close its Kent office, which holds 69 staff, following a decision made in August this year to outsource its unit trust fund administration to IFDS.

The firm is to decide whether staff will be moved into a smaller office in the same area or to the Hyde Park Corner offices, the company’s London headquarters.

When the decision was made to outsource fund administration earlier this year some staff opted for voluntary redundancy whilst others moved to IFDS. The Kent office lost 75 staff in August when the change in strategy took effect.

"Following the transfer of unit trust administration to IFDS in August, we are now consulting with our remaining employees in Kings Hill to determine whether it would make better sense from a business perspective to move to an alternative smaller office in Kings Hill or to the existing London office,” said a spokesperson for Jupiter.

“This is simply an exercise to determine the best location for our employees. If we choose to move to the existing London office, we would like all staff to remain with us although there is one person in office facilities whose role is at risk of redundancy if the decision was to move to London. We expect the review to be completed by the year-end," they said.