Janus Capital Group reported Thursday total assets under management of $141 billion as of Sept. 30, down 17% from the previous quarter, and down 12.3% from a year earlier.
The company’s earnings news release attributed the decrease to $26.4 billion in net market depreciation and net outflows in the third quarter totaling $2.4 billion.
Fundamental equity strategies had net outflows of $3.8 billion, and fixed income strategies had net inflows totaling $2.1 billion.
The firm’s INTECH Investment Management unit had net outflows of $700 million in the third quarter compared with $500 million in net inflows in the second quarter. The swing was primarily due to a $1.3 billion mandate the firm won in the second quarter, according to Bruce L. Koepfgen, Janus chief financial officer, in a conference call Thursday morning.
Janus’ net income in the third quarter was $27.4 million, down 34.6% from the second quarter and down 15.7% from a year earlier.
Revenue for the third quarter totaled $236.9 million, down 10.3% from the previous quarter and down 2.8% from a year earlier. Third-quarter revenue was dampened by $4.2 million in negative performance fees incurred from certain mutual funds, according to the company.
