FYI: Janus Capital Group Inc.’s chief executive called the third quarter frustrating as investors withdrew more than $2 billion and the firm’s revenue dropped because of lower management fees.
“Neither the investment performance nor the flows were what I want or expect,” Janus Chief Executive Dick Weil told analysts.
Investors withdrew $2.4 billion during the quarter, including money from certain types of equity and fixed-income funds. Profit rose despite those outflows. Janus shares fell 56 cents, or 4%, to $13.37 on Tuesday.
Regards,
Ted
http://www.denverpost.com/2016/10/25/investors-pull-2-billion-from-janus-funds-as-revenue-drops-on-lower-fees/
