Investors pulled $954 million from the 20 largest Janus stock and bond mutual funds, which account for 55% of total assets under management, in June, according to Bloomberg. In total, investors took out $18.5 billion over the past seven quarters and over $2 billion from mutual funds in the last quarter, the report said.
“Performance issues, which are management’s top priority, weigh on the outlook for flows and fees,” stated analysts in a recent Deutsche Bank note on Janus. “Despite the attractive valuations and long term strategic growth opportunities, given the near term performance, flow and fee headwinds, we maintain our hold rating.”
Janus
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Max Chen contributed to this article.