Janus Capital Group reported fourth quarter net income of $35.7 million, or $0.19 per diluted share, compared with net income of $27.4 million, or $0.15 per diluted share, in the third quarter 2011 and net income of $65.9 million, or $0.36 per diluted share, in the fourth quarter 2010.

For the full-year 2011, net income totaled $142.9 million, or $0.78 per diluted share, compared with net income of $159.9 million, or $0.88 per diluted share for 2010.

The company’s operating margin for the fourth quarter 2011 was 32.7% compared with 31.3% for the third quarter 2011 and 34.7% for the fourth quarter 2010.

Average assets under management during the fourth quarter were $149.2 billion compared with $155.9 billion during the third quarter and $167.3 billion during the fourth quarter 2010.

As of Dec. 31, 2011, the company’s total AUM was $148.2 billion compared with $141.0 billion at Sept. 30 and $169.5 billion at Dec. 31, 2010.

Relative investment performance in key fundamental equity strategies continues to be challenged, with 38%, 38%, and 79% of mutual fund assets ranked in the top half of their Lipper categories on a one-, three- and five-year total return basis, respectively, as of Dec. 31.

Fixed income mutual funds continue to generate strong long-term relative investment performance with 80%, 5% and 100% of mutual fund assets ranked in the top half of their Lipper categories on a one-, three- and five-year total return basis, respectively, as of Dec. 31.

Mathematical equity relative investment performance continues to improve, with 75%, 43% and 69% of strategies surpassing their respective benchmarks, net of fees, over the one-, three- and five-year periods, respectively, as of Dec. 31.

In addition, 56% of complex-wide mutual funds have a 4- or 5-star Overall Morningstar Rating as of Dec. 31.

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