Janus Capital Group says its full-year 2008 net income was $138.4 million, or $0.86 per share, vs. $192.0 million, or $1.07 per share, for 2007. As a result of the recent difficult market environment, average assets under management declined 32 percent to $124.3 billion during the fourth quarter 2008, reflecting $34.0 billion of net market depreciation and $3.0 billion of long-term net outflows.
Relative long-term investment performance, according to the company, remains strong with about 55 percent, 79 percent and 83 percent of firm-wide mutual funds in the top half of their Lipper categories on a one-, three- and five-year total-return basis respectively as of December 31, 2008.
“The investments we’ve made in the business have positioned the firm for the future,” explains CEO Gary Black.
In addition, the company says it is encouraged by the fact that its broker/dealer and international distribution channels posted positive long-term net flows of $2.4 billion and $1.7 billion, respectively in 2008.
On December 31, 2008, Janus increased its ownership of Perkins Investment Management LLC to roughly 80 percent. And on January 21, 2009, Janus announced plans to exit its institutional money market business.