Janus Capital Group's assets under management totaled $191.3 billion as of March 31, a decline of less than 1% from both three and 12 months earlier, said its earnings statement released Tuesday.
The decrease in companywide assets under management during the quarter was the result of net market deprecation of $1.3 billion and long-term net outflows of $300 million. This was offset by exchange-traded product net inflows of $600 million. Fundamental equity and fixed income had net outflows of $900 million and $100 million, respectively, while quantitative equity investment division INTECH reported net inflows of $700 million.
Janus Capital Group CEO Richard Weil said on a conference call Tuesday that he was “encouraged” by the INTECH inflows, noting it was the first time the division had experienced net inflows since the third quarter of 2013.
And while Mr. Weil did not break down inflows and outflows by specific funds, he said the Janus Global Unconstrained Bond Fund managed by William H. Gross “is putting up very strong performance, outperforming 83% of its peers over the last year.” The fund had $1.3 billion in assets as of March 31, according to Janus' website.
However, the company overall reported net income and revenue figures that were less than rosy in the first quarter. Net income of $35.1 million in the quarter was down 24.7% from the previous quarter and down 21.3% from the year-earlier quarter.
Revenue of $248.5 million in the first quarter was down 7.2% from the previous quarter and 5.4% for the year-over-year quarter.