Janus Capital Group continues to reap the benefit of its Intech unit, as the quantitative investment group attracted $4 billion in new money in the first quarter of 2006.
Those inflows helped push the Denver shop's first quarter earnings ahead of last year by 80%. Intech now boasts $50 billion in assets under management.
"On the institutional side, we built on our momentum by delivering record sales of nearly $5 billion last quarter," said Janus CEO Gary Black, in an earnings report statement late last week. "Our positive net flows from financial advisers and fund supermarkets and in our international business were also encouraging signs."
Janus' mutual funds, however, continued to suffer outflows, albeit at a slower pace. In the first quarter of this year, shareholders withdrew $500 million, versus $900 million in the fourth quarter of 2005 and $3.9 billion in the first quarter of 2005.
The growth manager reported net income of $35.3 million, or 17 cents per share. Those numbers compare to $19.6 million, or nine cents per share in the year-ago period.