Intermediary channel boosts Janus Henderson flows
Global fund manager Janus Henderson has reported four consecutive quarters of positive flows and is hopeful of its strategic partnership with Guardian Life opening up new intermediary channels.
In its results for the three months to 30 March 2025, the firm said total assets under management fell from US$378 billion ($592 billion) in the previous quarter to US$373 billion.
Some US$206.4 billion sits with the intermediary channel, up from $195 billion a year ago.
Net inflows were $2 billion compared to outflows of $3 billion in the first quarter of 2024 and this represents four consecutive quarters of positive flows. It had previously reported four consecutive quarters of outflows from the second quarter of 2023 to first quarter of 2024.
Commenting on this quarter’s performance, it said: “Flows primarily reflect strength in active ETFs and we are maintaining or increasing market share in intermediary.”
While net flows are up from a year ago, they are down from $3.3 billion in the previous quarter.
Self-directed investor net flows were up from US$0.4 billion to US$2.1 billion, but intermediary and institutional net flows both fell. This may reflect a reporting change this quarter, where ETF flow activity is now measured across each client segment rather than only in intermediary.
In February, Janus listed the Janus Henderson Australian Fixed Interest Active ETF (JFIX) on Cboe Global Markets that offers investors exposure to government and semi-government bonds alongside corporate and asset-backed securities. Its local product suite already includes two fixed interest active ETF funds – the Tactical Income Active ETF (TACT) and the Sustainable Credit Active ETF (GOOD).
Discussing its recent deal with life insurer Guardian, announced in April, it said it is hopeful this will enable growth in new intermediary channels.
The strategic partnership will provide up to US$400 million in seed capital to rapidly launch and scale new fixed income products. It will also co-develop proprietary, multi-asset solution model portfolios for Guardian’s dually registered broker-dealer and registered investment adviser, Park Avenue Securities (PAS), which has over 2,400 advisers.
Ali Dibadj, CEO, said: “We are further executing our strategic vision with the previously announced multifaceted, strategic partnership with Guardian, which we believe will amplify several areas of our business. Importantly, the agreement with Guardian demonstrates that we are a destination for the most sophisticated assets in the world, and we plan to continue identifying ways to meet our current and future clients’ needs and support the growth of Janus Henderson.
“As a global firm, the diversity of our AUM, clients, geographies, and investment capabilities forms a broad foundation that helps enable us to manage this uncertain environment effectively.”
AUTHOR
Laura Dew
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