Janus Capital Group Inc. (“JCG”) (NYSE: JNS) today reported third quarter net income of $25.1 million, or $0.14 per diluted share, compared with second quarter 2012 net income of $23.4 million, or $0.13 per diluted share and net income of $27.4 million, or $0.15 per diluted share, in the third quarter 2011. Third quarter 2012 net income included an intangible asset impairment charge of $0.01 per share related to the redemption of a sub-advised account. Third quarter 2011 net income included a net charge of $0.06 per share primarily related to mark-to-market losses on investments.
Flows and Assets Under Management
Average assets under management during the third quarter 2012 were $155.5 billion compared with $155.0 billion during the second quarter 2012 and $155.9 billion during the third quarter 2011.
At September 30, 2012, JCG’s total assets under management were $158.2 billion compared with $152.4 billion at June 30, 2012 and $141.0 billion at September 30, 2011.The increase in complex-wide assets during the third quarter 2012 primarily reflects net market appreciation of $7.8 billion offset by long-term net outflows of $2.0 billion. Fixed income and mathematical equity long-term net inflows totaled $1.0 billion and $0.3 billion, respectively, while fundamental equity long-term net outflows totaled $3.3 billion. Investment Performance As of September 30, 2012, 42% of complex-wide mutual funds have a 4- or 5-star Overall Morningstar Rating TM. 1 As of September 30, 2012, 38%, 26% and 49% of fundamental equity mutual funds ranked in the top half of their Lipper categories on a one-, three- and five-year total return basis, respectively. 2 Fixed income mutual funds continue to generate strong long-term relative investment performance with 54%, 75% and 100% of mutual fund assets ranked in the top half of their Lipper categories on a one-, three- and five-year total return basis as of September 30, 2012. 3 Mathematical equity relative investment performance has improved, with 82%, 93% and 75% of strategies surpassing their respective benchmarks, net of fees, over the one-, three- and five-year periods, respectively, as of September 30, 2012. 4 Financial Discussion
|(dollars in millions, except per share data or as noted)|
|Three Months Ended|
|September 30,||June 30,||September 30,|
|Average Assets ( in billions)||$ 155.5||$ 155.0||$ 155.9|
|Ending AUM ( in billions)||$ 158.2||$ 152.4||$ 141.0|
|Revenues||$ 209.0||$ 206.0||$ 236.9|
|Operating Expenses||$ 161.1||$ 153.9||$ 162.7|
|Operating Income||$ 47.9||$ 52.1||$ 74.2|
|Net Income||$ 25.1||$ 23.4||$ 27.4|
|Diluted Earnings per Share||$ 0.14||$ 0.13||$ 0.15|
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