Janus Henderson (JHG) outflows sink the share price

Stock

Janus Henderson (JHG) $28.90 as at 1/08/2019

Event

The worst performer on the ASX today is Janus Henderson with shares in JHG currently down over 9% following its 2nd quarter update overnight. The global asset manager saw adjusted net income of $120m, around 8% below estimates for the 3 months of the June quarter, driven by further outflows from their funds.

Janus saw a total of nearly $10bn redeemed, however Assets Under Management grew 1% thanks to positive market performance.

On the positive side, Janus was keen to show performance for the bulk of their AUM was outperforming the relevant benchmarks on medium to longer term periods, with 80% outperforming on a 5 year basis. In the short term, there has been some turn around in the company’s performance however performance fees continue to track below consensus estimates.

Janus Henderson (JHG) Chart

Janus Henderson (JHG) Chart

Market Matters Take/Outlook

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