Janus' 1Q Earnings Rise 80% on Intech's Strength
May 8, 2006
Janus Capital continues to reap the benefit of its Intech unit, as the quantitative investment group attracted $4 billion in new money in the first quarter, bringing Intech's total assets to $50 billion.
Those inflows helped push the Denver shop's first quarter earnings ahead of last year by 80%. The growth manager reported net income of $35.3 million, or 17 cents per share. Those numbers compare to $19.6 million, or nine cents per share in the year-ago period.
Janus' mutual funds, however, continued to suffer outflows, albeit at a slower pace. In the first quarter, shareholders withdrew $500 million, versus $900 million in the fourth quarter of 2005 and $3.9 billion in the first quarter of 2005.
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