Janus Capital Group gains 3.8% in assets under management
By Randy Diamond | October 25, 2012 4:08 pm
Janus Capital Group saw its third-quarter assets under management rise 3.8% to $158.2 billion, with $7.8 billion in market appreciations more than offsetting $2 billion in net outflows.
Assets were 12.2% higher than the third quarter 2011.
Fundamental equities, Janus' dominant asset class, saw net outflows of $3.3 billion in the Sept. 30 quarter while fixed income saw net inflows of $1 billion in the quarter.
INTECH, Janus' quantitative equity division, saw inflows of $300 million in the quarter.
Janus has struggled with net outflows over the last few years. The $2 billion in net outflows for the quarter ended Sept. 30 compares with net outflows of $4 billion in the previous quarter and $2.3 billion a year earlier.
Third-quarter net income was $25.1 million, up 7.3% from the third quarter but down 8.4% from the previous year.
Revenue for the third quarter was $209 million, up 1.8% from the previous quarter but down 11.8% from the year-earlier quarter.