Janus Capital Group's assets under management totaled $189.5 billion as of June 30, down 0.1% from three months earlier and up 6.6% from June 30, 2014.
Net inflows slowed to $200 million for the quarter ended June 30, but the money manager recorded its third straight quarter of net inflows after five years of net outflows, its second-quarter earnings statement said. The company reported $1.1 billion in net inflows in the previous quarter.
Janus CEO Richard Weil emphasized the positive inflows in a call on Thursday with analysts, saying the “headline” was the third “consecutive quarter of positive net flows.”
However, investors reacted negatively and Janus' stock was down about 3.6% in trading on Thursday, the biggest drop in more than a month.
Janus said the decrease in overall assets during the second quarter reflects net market depreciation of $400 million Long-term fixed-income net inflows totaled $300 million, while long-term fundamental equity net outflows totaled $100 million.
Net income was $44.7 million, flat from the previous quarter and up 23% from the year-over-year quarter.
Revenue of $271.9 million was up 3.5% from the previous quarter and up 17.6% from the year-earlier quarter.
Mr. Weil said in the conference call that when interest rates finally rise it would benefit the unconstrained bond strategy run by William H. Gross, who joined Janus last September.
Mr. Gross' Global Unconstrained Bond Fund had $39.1 million in net outflows in June, the third straight month of outflows, company statistics show.