Janus Henderson reports slightly lower net income
Janus Henderson Group has reported its first set of results as a combined group with net income for second quarter 2017 at $41.7 million, which was slightly lower compared with first quarter of $42.6 million and $46.3 million, a year earlier.
The company said that while total group net flows were still negative, it saw improvement across the business.
Also, second quarter 2017 net income on a pro forma adjusted basis, adjusted for acquisition and transaction related costs, was $139.8 million, the company said.
Assets under management increased to $345 billion and were driven by positive markets and foreign currency translation gains.
Total Group net outflows of $1 billion reflect a $6 billion improvement from the first quarter 2017, driven by equity flows and moderation in quantitative equity outflows.
According to Janus Henderson, delivering on cost synergies and realisation of revenue synergies were in the early stages while early integration efforts were successful with an ongoing execution.
Recommended for you
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
Following yesterday’s news about First Sentier Investors closing four investment teams, a second global asset manager has announced it is closing its only dedicated Australian fund.
