Q3 2024 Janus Henderson Group PLC Earnings Call Transcript
Key Points
- Janus Henderson Group PLC (JHG) reported a 42% increase in adjusted diluted EPS compared to the same period a year ago, reflecting strong financial performance.
- The company achieved positive net flows for the second consecutive quarter, with $400 million in net inflows, marking progress towards consistent organic growth.
- Assets under management increased by 6% to $382.3 billion, which is 24% higher compared to a year ago.
- The acquisition of Victory Park Capital and NBK Capital Partners expands JHG's private market capabilities, aligning with client demand for differentiated private credit strategies.
- JHG's strategic initiatives, including the launch of new active ETFs in Europe and a partnership with Anemoy and Centrifuge, demonstrate a commitment to innovation and digital assets.
- Despite positive net flows, the equity segment experienced net outflows of $1.5 billion, indicating challenges in the active equities market.
- Institutional net outflows were $500 million, highlighting the need for a stronger pipeline and sustained efforts to replenish it.
- Fee pressures remain relentless in the asset management industry, impacting the company's net management fee margin.
- The multi-asset segment, particularly the balanced fund, remains in slight outflow, requiring further efforts to attract inflows.
- The integration of recent acquisitions and the expansion into new markets may present challenges and require significant investment and resources.
Good morning. My name is Megan, and I'll be your conference facilitator today. Thank you for standing by, and welcome to the Janus Henderson Group third-quarter 2024 results briefing. (Operator Instructions)
In today's conference call, certain matters discussed may constitute forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements due to a number of factors, including, but not limited to, those described in the forward-looking statements and Risk Factors sections of the company's most recent form 10-K and other more recent filings made with the SEC. Janus Henderson assumes no obligation to update any forward-looking statements made during the call. Thank you.
Now it is my pleasure to introduce Ali Dibadj, Chief Executive Officer of Janus Henderson. Mr. Dibadj, you may begin your conference.
Welcome, everyone, and thank you for joining us today on Janus Henderson's third-quarter 2024 earnings call. I'm Ali Dibadj, and I
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