GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

Janus Capital Group Inc. Reports Operating Results (10-Q)

July 26, 2012 | About:
insider

10qk

18 followers
Janus Capital Group Inc. (JNS) filed Quarterly Report for the period ended 2012-06-30.

Janus Capital Group Inc. has a market cap of $1.36 billion; its shares were traded at around $6.77 with a P/E ratio of 10 and P/S ratio of 1.4. The dividend yield of Janus Capital Group Inc. stocks is 3.3%.

Highlight of Business Operations:

(2) Gross sales and redemptions for the six months ended June 30, 2011, exclude the transfer of $1.1 billion within mathematical equity strategies.

Performance fee revenue is derived from certain mutual funds and separate accounts. The decline in total performance fee revenue of $21.7 million was primarily due to an increase in negative mutual fund performance fees. These negative mutual fund performance fees totaled $23.0 million in the second quarter 2012 and were driven by underperformance compared to the mutual funds respective benchmarks. Mutual fund performance fees represent up to a positive or negative 15 basis point adjustment to the base management fee.

The decline in total performance fee revenue of $41.5 million was primarily due to an increase in negative mutual fund performance fees. These negative mutual fund performance fees totaled $42.5 million for the six months ended June 30, 2012.

Noncontrolling interests in net income decreased from $6.6 million for the six months ended June 30, 2011 to $5.4 million for the six months ended June 30, 2012, primarily due to a decline of $1.6 million in the noncontrolling interest share of Perkins earnings, partially offset by $0.6 million of gains associated with the noncontrolling interests in consolidated investment products.

Cash used for investing activities for the six months ended June 30, 2012, includes purchases and sales of investments as well as economic hedging and vesting of mutual fund share awards. Purchases of investments in 2012 totaling $72.5 million include $39.7 million from the economic hedging of mutual fund share awards and $22.3 million from the seeding of investment products, while sales of investments totaling $57.9 million included $28.0 million from the sale of mutual fund share award hedge assets and $15.4 million from the sale of seeded investment products. Cash used for investing activities for the comparable prior year period included purchases and sales of investments as well as economic hedging and vesting of mutual fund share awards. Purchases of investments in 2011 totaling $147.4 million included $93.0 million from the seeding of new investment products in the second quarter 2011, while sales of investments totaling $88.7 million included proceeds of $32.6 million from the disposal of structured investment vehicle securities.

Read the The complete Report

About the author:

10qk
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 3.0/5 (2 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Email Hide