Janus Capital Group reported $173.9 billion in assets under management as of Dec. 31, up 4.3% from three months earlier and 10.9% from a year ago, as rising equity markets outpaced continued net outflows.
Net outflows totaled $6.2 billion for the three months ended Dec. 31, the 18th straight quarter the company has suffered net redemptions. However, overall assets increased because of $13.2 billion in market gains in the quarter.
CEO Richard Weil called the outflows in the fourth quarter “disappointing” in a conference call with analysts Thursday, saying the outflows were driven by “challenging fundamental equity performance.”
The Denver-based money manager saw its biggest net redemptions, $3.3 billion, in the fourth quarter in its growth/core equity funds and strategies, followed by $1.8 billion in its INTECH mathematical equities division and $1.1 billion in its value equity funds and strategies.
Net redemptions in the fourth quarter were up from $4.2 billion from the quarter ended Sept. 30 and $3.6 billion from the year-over-year quarter.
The Denver company reported net income of $38.3 million, up 17.4% from the previous quarter and up 23% from the year-earlier quarter due to increases in fee revenue from the overall asset rise.