Janus Capital Group reported $185 billion in assets under management of as of Sept. 30, down 3.8% from three months earlier and up 6.1% from a year earlier, said its third-quarter earnings statement Thursday.
The company said the decrease in AUM in the quarter reflected market depreciation of $11 billion, long-term net outflows of $3.3 billion and exchange-traded product net outflows of $400 million.
Outflows were partially offset by Janus' acquisition of money management firm Kapstream Capital on July 1, which added $7.1 billion in fixed-income AUM to the firm.
Janus' INTECH quantitative equity unit saw net outflows of $1.6 billion in the quarter, while fundamental equities saw net outflows of $1.5 billion and fixed income had net outflows of $200 million.
Net income of $19.9 million in the third quarter was down 56% from the previous quarter and down 51% from the year-earlier quarter. The company said paying off debt impacted its third-quarter earnings.
The company reported revenue of $273.8 million for the quarter, flat from the previous three months and up 15.5% from the third quarter of 2014.