Janus Capital saw its assets under management drop 5.5 percent in December, the company reported today. While the fall knocked more than $7 billion from the fund firm's complex, it was likely caused by the declines in the market.

The S&P 500 index fell 5.9 percent in December and the Nasdaq Composite slipped 9.6 percent.

Janus Capital Group's average assets under management for December totaled approximately $142 billion. Average assets under management during 2002 were approximately $164 billion.  

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