Janus Henderson, the dual-listed US and Australian fund manager that completed its merger in May, is on track to beat its annual cost savings target having cut around 100 staff.

The asset manager had initially said it was aiming to make cost savings of $85m in the first 12 months of being a combined entity. Today, it announced it had already reached $72m of its target by the end of September — just five months after completion — with an expectation that $90m of savings would be achieved in the first 12 months.