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Janus Capital Group Inc. said that second-quarter net income rose 57%, to $48.8 million, or 27 cents per share, from a year earlier, beating by three cents the average of analysts' estimates compiled by Thomson Financial Inc.
The Denver mutual fund company said that revenue grew 17% in the quarter, to $273 million. The company, which manages stock and bond assets, collected $220.6 million in investment management fees, up 18% from a year earlier. Assets under management grew by 8%, to $190.6 billion.
Net inflows into the company's funds totaled $4.1 billion, and Janus said market appreciation contributed an additional $10.3 billion of assets.
Gary Black, Janus' chief executive officer, said during the company's quarterly earnings call on Thursday that this was the first quarter in six years that customers contributed more to Janus' funds than they took out.
