Janus Capital Group Inc. (“JCG”) (NYSE: JNS) today reported fourth quarter net income of $31.2 million, or $0.17 per diluted share, compared with third quarter 2012 net income of $25.1 million, or $0.14 per diluted share, and net income of $35.7 million, or $0.19 per diluted share, in the fourth quarter 2011.
Fourth quarter 2012 net income included an intangible asset impairment charge of $0.02 per share related to the redemption of a sub-advised account. Third quarter 2012 net income included an intangible asset impairment charge of $0.01 per share also related to the redemption of a sub-advised account.
For the full-year 2012, net income totaled $102.3 million, or $0.55 per diluted share, compared with net income of $142.9 million, or $0.78 per diluted share, for 2011.
Flows and Assets Under ManagementAverage assets under management during the fourth quarter 2012 were $155.6 billion compared with $155.5 billion during the third quarter 2012 and $149.2 billion during the fourth quarter 2011. At December 31, 2012, JCG’s total assets under management were $156.8 billion compared with $158.2 billion at September 30, 2012 and $148.2 billion at December 31, 2011. The decrease in complex-wide assets during the fourth quarter 2012 primarily reflects long-term net outflows of $3.6 billion offset by net market appreciation of $2.1 billion. Fundamental equity and mathematical equity long-term net outflows totaled $2.7 billion and $1.6 billion, respectively, while fixed income long-term net inflows totaled $0.7 billion. The increase in year-over-year assets under management was the result of $20.6 billion of net market appreciation offset by $12.0 billion of long-term net outflows. Investment Performance As of December 31, 2012, 50% of complex-wide mutual funds had a 4- or 5-star Overall Morningstar Rating TM. 1 As of December 31, 2012, 68%, 20% and 48% of fundamental equity mutual fund assets ranked in the top half of their Morningstar categories on a one-, three- and five-year total return basis, respectively. 2 Fixed income mutual funds continue to generate strong long-term relative investment performance with 54%, 75% and 100% of mutual fund assets ranked in the top half of their Morningstar categories on a one-, three- and five-year total return basis as of December 31, 2012. 3 Mathematical equity relative investment performance has continued to be strong, with 63%, 87% and 67% of strategies surpassing their respective benchmarks, net of fees, over the one-, three- and five-year periods, respectively, as of December 31, 2012. 4 Financial Discussion
|(dollars in millions, except per share data or as noted)|
|Three Months Ended||Year Ended|
|December 31,||September 30,||December 31,||December 31,|
|Average Assets ( in billions)||$||155.6||$||155.5||$||156.3||$||162.3|
|Ending AUM ( in billions)||$||156.8||$||158.2||$||156.8||$||148.2|
|Net Income Attributable to JCG||$||31.2||$||25.1||$||102.3||$||142.9|
|Diluted Earnings per Share||$||0.17||$||0.14||$||0.55||$||0.78|
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