Janus Capital Group announced Thursday it closed the quarter ended Dec. 31 with $2 billion in net inflows, ending a streak that had resulted in net outflows for 21 straight quarters since June 30, 2009.
Janus finished the fourth quarter with $183.1 billion in total assets under management, up 5% from Sept. 30 and up 5.3% from the previous year.
Revenue of $254.8 million was also up 12.6% in the fourth quarter from a year earlier and net profit of $46.7 million was up 16.7% from a year earlier.
Janus CEO Richard Weil, who raised the firm's visibility by hiring William H. Gross to run the firm's unconstrained bond fund in September, said in an earnings call with analysts Thursday that the firm needs to have a sustained level of net inflows beyond one quarter.
“We're reporting on progress rather than victory,” Mr. Weil said.
Janus finished the year with $4.9 billion in net outflows, which Mr. Weil said was a “substantial improvement” from the $19.7 billion in net outflows in 2013, but he also noted that it was still “a negative number.”