Q2 2024 Janus Henderson Group PLC Earnings Call Transcript
Key Points
- Janus Henderson Group PLC (JHG) reported a 37% increase in adjusted diluted EPS to $0.85 compared to the same period a year ago.
- Net inflows of $1.7 billion for the quarter, marking the second quarter out of the last six with positive flows.
- Assets under management (AUM) increased by 3% to $361.4 billion, the highest quarterly AUM figure in over two years.
- Strong investment performance with 63% of assets beating respective benchmarks on a 1, 3, 5, and 10-year basis.
- The company has a strong and stable balance sheet, generating over $220 million in cash flows from operations in the second quarter.
- Equity flows were negative $1.4 billion, reflecting a challenging environment for active equities.
- Net outflows for the self-directed channel remained flat at $900 million compared to the prior quarter.
- Adjusted non-compensation operating expenses increased by 5% compared to the prior quarter due to higher G&A and marketing expenses.
- The UK intermediary segment continued to experience net outflows, unlike other regions which showed improvement.
- Net management fee margin declined slightly from the prior quarter, indicating some fee pressure in the asset management industry.
Good morning. My name is Megan and I'll be your conference facilitator today. Thank you for standing by and welcome to the Janus Henderson Group second quarter 2024 results briefing.
(Operator instructions)
In today's conference call, certain matters discussed may constitute forward-looking statements. Actual results could differ materially from those predicted in the forward-looking statements due to a number of factors, including, but not limited to, those described in the forward-looking statements and risk factors sections of the company's most recent Form 10-K and other more recent filings made in the SEC. Janus Henderson assumes no obligation to update any forward-looking statements made during the call. Thank you.
Now it is my pleasure to introduce Ali Dibadj, Chief Executive Officer of Jus Henderson. Mr. Dibadj, you may begin your conference.
Welcome, everyone, and thank you for joining us today on Janus Henderson's second quarter 2024
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