Janus Capital Group's total assets under management as of Dec. 31 were $139 billion, down 8.3% from the previous year, according to a news release. CEO Steve Scheid said in the release that Janus had made significant progress on both performance and in stabilizing the firm's assets under management.
The firm's net income for 2004 was $169.5 million, down sharply from $942.7 million in 2003. Excluding non-recurring items, such as a $807.7 million gain from the sale of DST Systems Inc. in late 2003 and charges of $73.8 million related to the mutual fund investigation, Janus reported adjusted net income for 2004 of $137 million, down 46% from the previous year.
Separately, today Janus announced a new portfolio manager compensation plan that will tie compensation more closely to one- and three-year fund performance, with greater emphasis on three-year results.
