Janus Capital Group Inc.'s fourth-quarter earnings surged as the money manager rebounded from the financial crisis.
Growth in assets under management continued, putting 2009's gain at 29% and the quarter's increase at 5%. Fund flows were flat as outflows at the Intech family of funds offset inflows elsewhere.
Janus reported a profit of $37 million, or 20 cents a share, compared with $7.8 million, or 5 cents, a year earlier. The 2008 results included a 7-cent investment loss. Revenue jumped 41%, to $250.6 million.
The mutual fund company's solid results came after a difficult third quarter marked by expenses related to the departure of its chief executive. However, investors recently seemed reassured by the planned elevation of Chief Operating Officer Richard M. Weil to the job on Feb. 1.
