MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Wednesday, April 20, 2005 Janus Stems Outflows in Retail and Advisor Channels Janus Capital was off the mark this quarter, in earnings and assets under management. The Denver-based fund firm missed analysts' earnings estimates by $0.02 for the first quarter, reporting diluted earnings per share of $0.09, or $216 million in income. Total assets under management fell by five percent, from $139.0 billion at the end of the year to $132.2 billion at the end of March. Net outflows made up 62 percent, or $4.2 billion of the total drop assets, while market depreciation made up 38 percent, or $2.6 billion. At the end of March, Janus' Retail Channel had $44.6 billion in total assets, the Global Advisors Channel had $52.6 billion and the Institutional Channel assets totaled $35.0 billion. While Janus' Retail and Global Advisors Channels both experienced net outflows of $1.2 billion and $2.6 billion quarter over quarter, the company's Institutional Channel brought in $1.9 billion in net inflows. Yet Janus' Institutional Channel did not pull in as much as it did in the last quarter. The channel provided $3.4 billion of net inflows in the fourth quarter. Meanwhile, in the other channels, Janus continues to look challenged, but recorded improvements from the fourth quarter. In both Retail and Advisor channels, Janus improved quarter over quarter outflows. Janus brought down net outflows in the Advisor Channel from $2.8 billion to $2.6 billion. In retail, Janus fared better than the last quarter, when it lost $1.5 billion in outflows. Janus said that gross sales in the retail channel were up 19 percent from the quarter ended December 31. Global Advisors "[f]lows continue to be challenged by slower momentum in the insurance segment of the business, which represents approximately half of the Global Advisors channel series," officials stated in an earnings release. The unit counted some victories, however. According to the release, four recordkeeping providers reinstated Janus on their platforms in the first quarter. Janus officials said they now count distribution on 23 of the 25 largest recordkeeping platforms. Printed from: MFWire.com/story.asp?s=9527 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |