Janus reported net income for the third quarter of 2005 of $31.7 million, a 33% decrease from net income of $47.3 million in the corresponding quarter a year earlier. However, Janus has its first quarter of net inflows, $1.7 billion, since the second quarter of 2003.

"This was our best quarter of flows in five years," said Chief Executive Officer Steve Scheid. "Our positive flows, combined with strong market conditions during the quarter, led to improvements in our earnings per share and operating margins. These results reflect significant strides in our financial performance."

Separately, Janus announced that effective Jan. 3, President and Chief Investment Officer Gary Black will become CEO and CIO of the firm, as current CEO and Chairman Steve Scheid will remain simply as chairman.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.