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

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

Rating:Janus Takes Write-Down Over Lost Mandates Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 08, 2004

Janus Takes Write-Down Over Lost Mandates

by: Caitlin  Pickall

Institutional clients pulled $1.8 billion out of Janus Capital Group, Inc. in the past three months, and the company estimates that they will withdraw an additional $4.5 billion over the next three, as changes decided during institutional clients’ year-end reviews go into effect.

Janus officials said Friday that 80 percent of the coming redemptions are expected in the subadvised channel and more than 40 percent of this channel’s redemptions "are from a single client who has decided to move a significant portion of their assets in-house."

Shelley Peterson, a Janus spokesperson, said that larger industry patterns were partially responsible for the outflows.

"You have to look at the general trends in the industry," she said. "A lot of these subadvised clients are looking to move money in-house."

Janus expects to take a $14 million write-down of intangible assets in the first quarter of 2004 to account for the closing of portfolios that have intangible assets allocated to them. The remaining intangible asset value allocated to subadvised accounts will be approximately $28 million.  

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

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q3Q2Q1
2021: Q4Q3Q2Q1
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. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use