All asset classes recorded increases in AUM for the quarter, with equities growing 5.1% to $182.3 billion. Net inflows were $600 million for the quarter. Fixed income recorded $400 million in net inflows, helping to bolster AUM 2.8% to $79.4 billion; and alternatives strategies attracted $500 million in net inflows, with assets under management growing 6.5% to $19.6 billion.
Quantitative equities strategies recorded net outflows of $500 million, although assets under management still grew 5.4% to $49 billion. Multiasset strategies had $300 million in net outflows, while AUM grew 2.7% to $30.2 billion.
INTECH, Janus Henderson's quantitative equity group, reported $500 million in net outflows with AUM rising 5.4% to $49 billion.
The firm also said it had expanded a long-standing strategic partnership with BNP Paribas Securities Services, which sees the custodian assume responsibility for the majority of Janus Henderson's back-office, middle-office and custody functions in the U.S. The move "will provide the firm with a consistent global platform to support growth," said co-CEOs Richard Weil and Andrew Formica in a statement accompanying the update.
"Our confidence in our ability to deliver cost synergies has enabled us to increase our target to at least $125 million on an annual run rate basis. Only five months have passed since the formation of Janus Henderson, yet pleasingly we are seeing green shoots in the cross-revenue opportunities, brought about by our global distribution footprint, expanded product set and collaborative culture," added the statement.
Revenue totaled $537.4 million for the quarter, up from $384.8 million in the previous quarter and $245 million in the quarter ended Sept. 30, 2016.
Net income was $99.5 million for the third quarter, compared with $41.7 million for the second quarter and $53.4 million for the three months ended Sept. 30, 2016.
