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Janus Capital sees assets drop 1.1% in quarter but rise 6.4% for year

Janus Capital Group reported $196.8 billion in total assets under management as of Dec. 31, a 1.1% drop from three months earlier but a 6.4% increase from the year before, the company announced in its fourth-quarter earnings report Tuesday.

The quarterly drop was driven by $2.1 billion in net outflows during the fourth quarter. Investment performance during the same period, meanwhile, was flat.

It was the second consecutive quarter in which Janus reported net outflows. The company had announced $2.4 billion in net outflows during the third quarter.

In its earnings presentation, the company attributed its fourth-quarter net outflows primarily to its INTECH Investment Management subsidiary, which had $1.6 billion in net outflows. Outflows were partially offset by Janus fixed-income and fundamental equity strategies, which had net inflows of $1.1 billion and $200 million, respectively.

Janus reported operating revenue of $251.4 million during the fourth quarter, down 2.9% from the previous quarter and down 6.1% from the fourth quarter of 2015. Net income for the fourth quarter totaled $31.1 million, down 2.8% from the previous quarter and down 3.6% from the year-earlier quarter.