The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Mutual Fund Admin Errors Cost Janus $13.6 Million Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, October 21, 2010

Mutual Fund Admin Errors Cost Janus $13.6 Million

Reported by Armie Margaret Lee

Janus Capital Group [see profile] reimbursed clients $13.6 million due to two "significant fund administrative errors." The firm made the revelation as part of its third quarter earnings report released Thursday morning.

The Denver-based firm chalked up net income of $32.5 million, or 18 cents per diluted share, up from $8.2 million, or 5 cents per diluted share in the year-ago period. The numbers exceeded expecations put forth by analysts. Those polled by Thomson Reuters I/B/E/S had predicted a profit of 16 cents a share.

Janus took an operating charge of 5 cents per share "for reimbursements to certain Janus mutual funds for two significant fund administrative errors."

The news release did not provide additional details on the mistake.

At the close of September, Janus had AUM of $160.8 billion, compared with $147.2 billion at the end of June and $151.8 billion at the end of Septmeber 2009. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use