Asset management firm Janus Henderson Investors recorded $3.1 billion of net outflows in the final quarter of last year, bringing total net outflows for 2023 to $0.7 billion.
By comparison, the London-based manager reported net outflows of $2.6 billion in the third quarter, while net outflows for the calendar year 2022 totaled $30.8 billion.
The fourth quarter's 2023 operating net income was $143.7 million, compared to $121.7 million in the third quarter 2023 and $67.8 million in the fourth quarter of 2022.
Assets under management increased by 9% quarter-over-quarter and 17% year-over-year, to $334.9 billion as of Dec. 31, an update said.
"The year ended strongly with fourth quarter results that delivered year-over-year improvement in net flows, a stable management fee rate, solid core revenues, continued cost management, growth in operating income, and an AUM tailwind entering 2024," said Ali Dibadj, CEO, in a news release accompanying the update. "The tremendous amount of work that began in 2022 to reposition Janus Henderson for greater success is paying off, as evidenced in our 2023 results."
In a conference call on the update, Dibadj added: "Last year, there was around $7 billion positive inflows in the institutional pipeline. All of that happened in the first quarter. There was real pent-up demand to kind of figure out what Janus Henderson was all about. Since then, in the back half of 2023 and ongoing, we're building up that pipeline again," he said.
Separately, DWS Group showed a return to inflows in 2023. In the fourth quarter, the Frankfurt-based manager recorded net inflows excluding cash of €1.8 billion ($2 billion), resulting in €22.6 billion overall net inflows in 2023. Assets under management also rose by €75 billion, up to €896 billion as of Dec. 31.
In 2022, net outflows totaled €19.9 billion for the year, and assets under management dropped by 11% to €821 billion.
