Janus Capital Group reported a 23% profit growth in the second quarter, and a 6.6% climb for assets under management from a year before.
Janus now has $189.5 billion in assets under management, nine months after Bill Gross joined the firm from Pimco, reports the Wall Street Journal. Operating expenses were up a slight 1.7% last quarter, due mainly to the firm’s decision to buy a majority stake in global bond firm Kapstream Capital.
Gross’s unconstrained bond fund didn’t fare well, as investors pulled money under threat of a Grexit. Janus’s fixed income long term net inflows were $300 million for the quarter, and equity long-term net outflows were $100 million.
Earnings for the firm fell a penny short of predictions, at 23 cents a share, but revenue was up 18% to $271.9 million.