Janus Capital Group, the maligned fund giant, reported higher earnings for the fourth quarter, but its assets under management growth lagged its peers due to its involvement in the scandal, the company reports.
Mostly because investors redeemed more than $8.1 billion in the fourth quarter, the companys stock has fallen almost 6%.
Even with $54.5 million in fourth quarter income, a gain of almost $10 million from last years $45.1 million, the company still seems affected by its involvement in the scandal, specifically the money its had to pay for legal costs and the probe itself.
Janus still has not filled its vacated position of chief investment officer, which many analysts thought would happen with the release of its fourth quarter numbers.
Mark Whitson, the firms CEO said: "Although some of our accomplishments have been overshadowed by regulatory issues. The fact is we're delivering strong fund performance and taking significant steps to restore Janus' reputation as a firm committed to putting its shareholders first."