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Money Management

Janus Henderson assets up for quarter, year despite net outflows

Janus Henderson Group's assets under management grew 2.2% for the quarter and rose 4.9% over the year ended Sept. 30, to $378.1 billion, despite net outflows for the firm.

A financial update Thursday said the money manager recorded $4.3 billion in net outflows for the three months ended Sept. 30, compared with $2.7 billion in net outflows for the quarter ended June 30 and $700 million in net inflows for the quarter ended Sept. 30, 2017.

Market and foreign-exchange impacts more than offset net outflows, adding $12.3 billion in assets.

Revenue totaled $581.2 million for the third quarter 2018, down 1.9% vs. the previous quarter but up 2.5% vs. figures for the year-earlier.

Net income was $138.6 million, down 7.5% vs. the second quarter 2018 but up 21.4% compared with the third quarter of 2017

By asset class, equity AUM grew 3.6% for the quarter to $197.8 billion, and grew 11% over the year ended Sept. 30. Quantitative equity strategies also grew in assets, by 4.2% for the quarter and 9% for the year to $52.1 billion.

Multiasset strategy assets under management totaled $33.7 billion as of Sept. 30, up 5.6% from June 30 and up 15.8% from Sept. 30, 2017.

Fixed-income AUM fell 2.5% for the three months and dropped 3.3% for the 12 months ended Sept. 30, to $75.9 billion; while alternatives assets fell 5.5% during the quarter and declined 9.4% over the year to $17.3 billion.

"While net flows and recent investment performance are not where we expect them to be, it is also true that we are seeing many areas in our business that are doing well," said Richard M. Weil, CEO of Janus Henderson, in a statement accompanying the update. "Our U.S. intermediary business is gaining market share, exceeding the industry's organic growth this quarter, and our global Institutional pipeline is seeing a growing number of opportunities across Australia, the Middle East, Asia and the U.S."

Mr. Weil added that short-term performance and net flow "challenges gain particular attention in a quarterly reporting cycle; however, they do not define our long-term value proposition or derail our plans to achieve organic growth. Going forward, we remain committed to our goals of growing market share profitably in each of our key markets and delivering an exceptional client experience."