Performance fees decline 99% at Janus Henderson

Janus Henderson performance fees

29 October 2021
| By Laura Dew |
image
image
expand image

Performance fees at Janus Henderson have fallen back after reporting a 350% jump in the second quarter.

Announcing its quarterly results for the three months to 30 September, 2021 to the Australian Securities Exchange (ASX), the US asset manager said performance fees had declined by 99% over the quarter.

After a jump of 350% during the second quarter to US$77.4 million ($102.7 million), performance fees were US$0.6 million in the third quarter.

This was “driven by investment performance and seasonality”, the firm said, and fees came from 20 funds compared to 45 in the previous quarter.

A year ago, performance fees were US$7 million in the third quarter of 2020.

However, there was a 3% increase in management fees from US$494 million to US$511 million as a result of higher average assets under management (AUM) which increased from US$420 billion to US$431 billion.

Total AUM declined 2% to US$419 billion as a result of net outflows of US$5.2 billion, mostly from its quantitative equities vehicles. Only 2% of vehicles in its quantitative equities division had outperformed the benchmark over three and five-years.

The best division in performance terms was fixed income where more than 95% of AUM was held in products which had outperformed their benchmarks over one, three, five and 10 years. It was lower in the equity division with 64% outperforming over one year and 56% over three years.

The company declared a dividend of US$0.38 cents per share to be paid on 24 November and completed US$75 million in share buybacks.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

3 weeks 4 days ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

1 week 2 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

5 days 10 hours ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

4 days 14 hours ago