Janus Capital Group reported assets under management of $160.6 billion for the quarter ended June 30, a 1.9% decline from March 31 but up 5.1% from a year earlier.
Net outflows were $5.4 billion for the most recent quarter, compared with net outflows of $3.9 billion in the prior quarter. This is the 16th straight quarter of redemptions at Janus.
Janus' fundamental equities asset class saw net outflows of $4.3 billion in the most recent quarter, while its mathematical oriented INTECH equity division saw net outflows of $1.2 billion
Market returns were positive, adding $2.2. billion.
Net income of $15.8 million was down 40.2% in the June 30 quarter from the previous quarter and down 32% from a year earlier.
In a conference call with analysts Thursday, Janus CEO Richard Weil attributed outflows to performance challenges by some of the firm's larger mutual funds, which were affected by manager changes. Three portfolio managers left Janus in May.
Also, Jennifer McPeek, the company's treasurer, was named chief financial officer to replace Bruce Koepfgen, who becomes president a new position.