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Janus Capital Profit Falls 34% as Investors Withdraw Cash

  • Revenue declined as firm ended year with fewer assets
  • Money manager saw $300 million in long-term net outflows
Updated on

Janus Capital Group Inc., the fund company merging with Henderson Group Plc, said fourth-quarter profit fell 34 percent as investors pulled cash amid lackluster performance.

Net income fell to $29.8 million, or 17 cents a share, from $45 million, or 25 cents, a year earlier, the Denver-based money manager said in a statement Tuesday. Adjusted earnings of 20 cents a share missed the forecast of 24 cents by nine analysts surveyed by Bloomberg.