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Rating:Janus Invests More in Quant Management Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, April 23, 2009

Janus Invests More in Quant Management

by: Neil Anderson, Managing Editor

Janus plans to invest further in INTECH. In the Denver-based fund firm's preliminary first quarter earnings report (downloadable pdf), released Thursday, Janus revealed that it will soon buy another three percent stake in the quantitative manager, for $25 million, which would put 92 percent of INTECH in Janus' hands.

As for Janus' results, the firm earned $2.7 million in the first quarter, "excluding expected goodwill and intangible asset impairment charges totaling $900 million to $1 billion," the final affect of which Janus plans to include in its final Q1 2009 results (to be released by May 11). Net income fell from $7.8 in Q4 2008 and $39 million in Q1 2008.

Janus suffered $5.3 billion in money market net outflows in the quarter and $0.9 billion in "long-term" net outflows, pushing its AUM down to $110.9 billion on March 31, 2009 (from $123.5 billion on December 31, 2008 and $187.6 billion on March 31, 2008). INTECH's AUM fell from $42.4 billion at the end of Q4 2008 to $38.3 billion at the end of Q1 2009, while assets at Janus subsidiary Perkins, fell from $9.1 billion to $8.6 billion. Janus upped its stake in Perkins from 30 percent to 80 percent on December 31 (see MFWire, 12/31/2008). 

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