Intech, the biggest driver of growth at
Global funds invest in countries throughout the world, including the U.S., while international funds invest strictly outside U.S. borders.
Although net outflows from Janus's retail mutual funds have slowed, they continue, whereas assets in the quantitative money manager have continued to soar. In 2003, Intech, in which Janus owns an 82.5% stake, had $5 billion under management. Today, that's $50 billion, with another $4 billion pouring into Intech's coffers in the first quarter alone.
In the first quarter of the year, investors withdrew a net $500 million from Janus's mutual funds. Nonetheless, Janus reported net income of $35.3 million in the quarter, up a whopping 80% from $19.6 million a year earlier--largely due to Intech.
The quant shop has "been the growth driver [at Janus] for the past two or three years," commented Franklin Morton, a portfolio manager with
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