Janus (JNS) to merge with British firm Henderson, forming asset management giant

Janus Capital Group and Henderson Group said on Monday that they would merge in an all-stock deal that would create an asset manager with greater global scale and about $320 billion of assets under management.

    

The combined company — to be called Janus Henderson Global Investors — would be worth about $6 billion based on market capitalization.

 

Janus, which lured William H. Gross after he left Pimco two years ago, is strong in North America, and it has $149 billion in assets under management in the United States. Henderson, which is based in London, is a large investment manager in Europe with about $91 billion in assets under management in Britain and Continental Europe.

Together they plan to apply to trade on the New York Stock Exchange but would also keep Henderson’s listing on the Australian Securities Exchange. After the merger, Henderson would drop its listing in London.

Janus Capital (JNS) reported earnings on Tue 26 Jul 2016 (b/o)

** charts before earnings **

 

** charts after earnings **

** 2 weeks later **

Janus Capital misses by $0.01, misses on revs :

• Reports Q2 (Jun) earnings of $0.21 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.22; revenues fell 7.4% year/year to $251.9 mln vs the $254.73 mln Capital IQ Consensus. 
• Average assets under management during the second quarter 2016 were $189.3 billion compared with $180.2 billion during the first quarter 2016 and $193.0 billion during the second quarter 2015.

Janus Capital (JNS) reported Q1 earnings on Tue 26 Apr 2016 (b/o)

** charts after earnings **

 

 ** 10 days later **

Janus Capital misses by $0.01, misses on revs; increases dividend  :

• Reports Q1 (Mar) earnings of $0.19 per share, $0.01 worse than the Capital IQ Consensus of $0.20; revenues fell 5.4% year/year to $248.5 mln vs the $254.84 mln Capital IQ Consensus.
• Average assets under management during the first quarter 2016 were $180.2 bln compared with $191.2 bln during the fourth quarter 2015 and $186.0 bln during the first quarter 2015.
• At March 31, 2016, JCG's complex-wide assets totaled $191.3 bln compared with $192.3 bln at December 31, 2015, and $192.4 bln at March 31, 2015. The decrease in complex-wide assets during the first quarter 2016 reflects net market deprecation of $1.3 bln and long-term net outflows of $0.3 bln, partially offset by exchange-traded product net inflows of $0.6 bln.
• Fundamental equity (Janus and Perkins equity flows) and fixed income long-term outflows of $0.9 bln and $0.1 bln, respectively, each in the first quarter were partially offset by mathematical equity long-term net inflows of $0.7 bln.
• Additionally, the Board of Directors approved a 22% increase in the Company's regular quarterly dividend to $0.11 per share from $0.09 per share