Several money management firms reported increases in assets under management in the fourth quarter.
Alliance Capital Management had $579 billion in AUM at the end of the fourth quarter, up 4.2% from the previous quarter, according to a news release. Assets increased 7.4% for the year, driven by appreciation in the equity markets and net inflows "across all distribution channels," said the release.
Franklin Resources reported $464.8 billion in assets under management as of Dec. 31, up 2.6% from the third quarter and up 15.6% from year-end 2004, according to a news release. Franklin cited an increase in equity, fixed-income and "hybrid" assets for the increase.
Janus Capital Group reported $148.5 billion in AUM as of Dec. 31, up 6.5% from Sept. 30 and up 6.8% from the end of 2004. Excluding money market assets, net inflows into long-term strategies rose $2 billion for the year, following a $20.6 billion outflow in 2004, according to a news release. It was the first year with positive net long-term inflows since 2000. Quantitative subsidiary INTECH continued to dominate the group's inflows, pulling in $5.2 billion for the latest quarter and $16.1 billion for the full year. But according to the release, CEO and CIO Gary Black welcomed signs of "sales momentum across the board." For the fourth quarter, Janus' non-INTECH, non-money market strategies saw net sales narrow to $900 million from $3.4 billion in the third quarter, while outflows for the year narrowed to $14.1 billion from $29.2 billion. Adjusting for exceptional items, the company's net income for 2005 was $113.1 million, down 17% from the previous year.
Cohen & Steers reported $20.5 billion in assets under management at the end of the fourth quarter, up 1.6% from the third quarter and up 12% from the end of 2004, according to a news release. The annual increase was driven by an uptick in non-U.S. REIT assets, which totaled $6.2 billion at the end of the year, a 30% increase from one year ago.