Janus Capital Group on Thursday said its assets under management fell 11% in the second quarter, to $147.2 billion, but were up 11% percent from a year earlier.
Net outflows from Janus’ INTECH unit, which had totaled $9.2 billion in the previous three quarters, slowed to $1.5 billion in the quarter ended June 30, the company said in a statement. Per-share earnings of 17 cents topped the 14-cent average estimate of 16 analysts surveyed by Bloomberg.
Earnings for the owner of the Janus, INTECH and Perkins funds got a boost from higher fund balances compared with a year ago, lifting management fees paid by clients. The MSCI ACWI climbed 9.5% in the year ended June 30. About 90 percent of the company’s mutual-fund assets are in equities.
For the year ended June 30, net income increased 91% to $30.2 million and revenue rose 25% to $249.3 million, driven by a 30 percent jump in investment management fees.