Janus Capital Group Beats 1Q15 Estimates (Part 2 of 5)
Fund flows
Janus Capital Group (JNS) saw an increase in its assets under management in various categories in the first quarter. Its average assets under management increased by 7.5%, up to $186 billion over the first quarter of last year. The increase was primarily due to market appreciation and new equity flows.
In terms of total assets, net market appreciation was $5.6 billion and long-term net inflow was $1.1 billion. The inflows in the fundamental equity and fixed income categories stood at $1.6 billion and $0.8 billion. These investments were partially offset by long-term net outflows of $1.3 billion in mathematical equity.
Gross bond fund
Bill Gross manages the Janus Global Unconstrained Bond Fund at Janus Capital Group. The fund has $1.5 billion in assets under management. During 1Q15, the fund attracted $100 million in new money from outside investors.
“Bill Gross’ Global Unconstrained Bond Fund has made a mighty comeback over the last five weeks,” wrote Ken Worthington, an analyst at JPMorgan Chase, in a research note this month.
The amount of funds brought in by Bill Gross is far less than the outflows witnessed at PIMCO. The total assets under management at PIMCO fell from $293 billion to $117 billion at the end of March. Gross himself has invested $700 million in his Janus Fund.
Janus Capital competes with mutual fund managers as well as ETF providers for new capital, including Franklin Resources (BEN), Federated Investors (FII), BlackRock (BLK), T. Rowe Price Group (TROW), Vanguard, American Funds, State Street (STT), Legg Mason (LM), Morgan Stanley (MS), Goldman Sachs (GS), Invesco (IVZ), and Affiliated Managers Group (AMG). Together, these companies form 9.66% of the Financial Select Sector SPDR Fund (XLF).
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