Janus Henderson Group plc (JHG) Bundle
A Brief History of Janus Henderson Group plc
Company Overview
Janus Henderson Group plc, a leading global asset management firm, was formed through the merger of Janus Capital Group and Henderson Group in 2017. As of 2024, the company manages a diverse range of investment strategies across multiple asset classes.
Financial Performance
As of September 30, 2024, Janus Henderson reported a net income of $287.1 million for the nine months ended, compared to $270.7 million for the same period in 2023. The company's total comprehensive income was $509.0 million for the nine months ended September 30, 2024.
Assets Under Management (AUM)
Janus Henderson's closing AUM as of September 30, 2024, reached $382.3 billion, reflecting a significant increase from $334.9 billion reported on June 30, 2023. The AUM breakdown by client type is as follows:
| Client Type | AUM (in billions) | Net Sales (in billions) | Redemptions (in billions) | Market Impact (in billions) | FX Impact (in billions) | Acquisitions (in billions) |
|---|---|---|---|---|---|---|
| Intermediary | $213.8 | $13.3 | ($11.5) | $1.8 | $8.3 | $0.8 |
| Self-directed | $87.4 | $0.5 | ($1.4) | ($0.9) | $3.0 | $0.3 |
| Institutional | $81.1 | $2.3 | ($2.8) | ($0.5) | $2.7 | $0.3 |
Dividends
Janus Henderson has maintained a consistent dividend policy, with dividends paid to shareholders totaling $188.1 million for the nine months ended September 30, 2024. The company declared dividends of $0.39 per share on multiple occasions throughout 2024.
Debt and Financing Activities
As of September 30, 2024, Janus Henderson reported a total debt of $698.6 million, which includes $302.4 million in 4.875% Senior Notes due 2025 and $396.2 million in 5.450% Senior Notes due 2034.
Recent Developments
In 2024, Janus Henderson completed the acquisition of Tabula and NBK, enhancing its investment capabilities and expanding its market presence.
Market Position
Janus Henderson is well-positioned in the asset management industry, with a strategic focus on delivering comprehensive investment solutions to its clients worldwide. The firm continues to adapt to market trends and client needs, aiming for sustainable growth and profitability.
A Who Owns Janus Henderson Group plc (JHG)
Major Shareholders
As of 2024, the ownership structure of Janus Henderson Group plc (JHG) includes significant holdings by institutional investors and major shareholders. The top five shareholders are as follows:
| Shareholder | Percentage Ownership |
|---|---|
| BlackRock, Inc. | 10.3% |
| The Vanguard Group, Inc. | 8.5% |
| State Street Corporation | 6.7% |
| Invesco Ltd. | 5.1% |
| JPMorgan Chase & Co. | 4.9% |
Institutional Ownership
Institutional investors hold a substantial portion of JHG shares, reflecting confidence in the company's management and growth potential. The breakdown of institutional ownership as of September 30, 2024, is as follows:
| Institution | Percentage of Total Shares | Number of Shares |
|---|---|---|
| BlackRock, Inc. | 10.3% | 16.3 million |
| The Vanguard Group, Inc. | 8.5% | 13.4 million |
| State Street Corporation | 6.7% | 10.6 million |
| Invesco Ltd. | 5.1% | 8.1 million |
| JPMorgan Chase & Co. | 4.9% | 7.8 million |
Recent Changes in Ownership
In the third quarter of 2024, there were notable changes in the ownership landscape of JHG:
- BlackRock increased its stake by 1.2% from the previous quarter.
- The Vanguard Group maintained its position without significant changes.
- State Street Corporation's ownership decreased by 0.4% due to market adjustments.
- Invesco Ltd. and JPMorgan Chase & Co. both saw slight increases in their respective holdings, with Invesco rising by 0.3%.
Shareholder Composition
The overall shareholder composition of Janus Henderson Group plc is diverse, with a mix of institutional and retail investors. The approximate distribution is as follows:
| Type of Shareholder | Percentage of Shares |
|---|---|
| Institutional Investors | 75% |
| Retail Investors | 25% |
Performance Metrics
As of September 30, 2024, Janus Henderson Group reported a total Assets Under Management (AUM) of $382.3 billion, reflecting a strong performance that supports shareholder value:
- Net inflows for Q3 2024 reached $0.4 billion.
- Revenue for Q3 2024 was $624.8 million, an increase of 20% from Q3 2023.
- Net income attributable to JHG for Q3 2024 was $27.3 million, a decrease from $93.5 million in Q3 2023.
Dividend History
Janus Henderson Group has consistently returned capital to shareholders through dividends:
| Dividend Declaration Date | Dividend Amount per Share | Total Dividends Paid (in millions) |
|---|---|---|
| January 31, 2024 | $0.39 | $63.2 |
| May 1, 2024 | $0.39 | $62.6 |
| July 31, 2024 | $0.39 | $62.3 |
Overall, Janus Henderson Group plc maintains a robust ownership structure characterized by significant institutional presence, ongoing shareholder engagement, and a commitment to returning value through dividends and strategic management of assets.
Janus Henderson Group plc (JHG) Mission Statement
Company Overview
Janus Henderson Group plc (JHG) is a global asset management firm that focuses on delivering superior investment performance and client service. The company's mission is to empower clients to achieve their financial goals through innovative investment solutions and exceptional service.
Mission Statement
As of 2024, Janus Henderson Group plc aims to:
- Provide a diverse range of investment strategies, including equities, fixed income, multi-asset, and alternatives.
- Focus on sustainable investment practices to meet the evolving needs of clients.
- Enhance client engagement through transparent communication and tailored solutions.
- Commit to delivering long-term investment performance that outperforms relevant benchmarks.
Core Values
JHG's core values reflect its commitment to integrity, collaboration, and excellence:
- Client-Centric Approach: Prioritizing the needs and goals of clients in every decision.
- Innovation: Continuously seeking new ideas and strategies to enhance investment performance.
- Responsibility: Upholding ethical standards and promoting sustainable investing practices.
- Teamwork: Fostering collaboration across teams and geographies to achieve shared goals.
Financial Performance and Statistical Data
As of September 30, 2024, Janus Henderson Group reported the following key financial metrics:
| Metric | Value |
|---|---|
| Assets Under Management (AUM) | $382.3 billion |
| Revenue (Q3 2024) | $624.8 million |
| Operating Income (Q3 2024) | $164.7 million |
| Net Income (Q3 2024) | $27.3 million |
| Operating Margin | 26.4% |
| Average AUM Growth (2024 vs 2023) | 16% |
| Dividend per Share (Q3 2024) | $0.39 |
| Share Buyback Authorization (2024) | $50.0 million |
Investment Performance
Janus Henderson's investment performance as of September 30, 2024, showed a strong track record:
| Investment Type | 1-Year Outperformance | 3-Year Outperformance | 5-Year Outperformance | 10-Year Outperformance |
|---|---|---|---|---|
| Equities | 63% | 61% | 54% | 80% |
| Fixed Income | 98% | 81% | 89% | 93% |
| Multi-Asset | 97% | 96% | 97% | 97% |
| Alternatives | 84% | 94% | 100% | 100% |
| Total | 75% | 71% | 67% | 85% |
Client Engagement and Strategy
JHG emphasizes its commitment to client engagement through:
- Regular communication and reporting on investment performance.
- Customized investment solutions tailored to individual client needs.
- Active involvement in sustainable investment initiatives.
Market Position and Growth
Janus Henderson continues to expand its market presence with strategic acquisitions and a focus on diversifying its investment capabilities. The recent acquisition of Tabula and NBK has enhanced its product offering in the alternatives space.
Conclusion
Janus Henderson Group plc's mission statement and strategic focus reflect its dedication to client success and sustainable investing. With robust financial performance and a commitment to innovation, JHG is well-positioned for continued growth in the asset management industry.
How Janus Henderson Group plc (JHG) Works
Assets Under Management (AUM)
As of September 30, 2024, Janus Henderson Group plc reported an AUM of $382.3 billion, representing a 14% increase from December 31, 2023. This growth was primarily driven by positive market performance of $43.6 billion and foreign exchange effects resulting in an increase of $5.4 billion due to a weaker USD against GBP, EUR, and AUD.
| Capability | Closing AUM ($ billion) | Net Sales ($ billion) | Redemptions ($ billion) | Market Performance ($ billion) | FX Impact ($ billion) | Acquisitions ($ billion) |
|---|---|---|---|---|---|---|
| Equities | $237.1 | $7.9 | ($9.4) | $9.2 | $3.2 | $0.0 |
| Fixed Income | $81.3 | $6.1 | ($3.9) | $2.2 | $1.6 | $0.8 |
| Multi-Asset | $53.5 | $1.4 | ($1.8) | $2.1 | $0.3 | $0.0 |
| Alternatives | $10.4 | $0.7 | ($0.6) | $0.5 | $0.3 | $0.3 |
| Total | $382.3 | $16.1 | ($15.7) | $14.0 | $5.4 | $1.1 |
Revenue Streams
In the third quarter of 2024, Janus Henderson reported total revenue of $624.8 million, an increase of 20% compared to the same quarter in 2023. The breakdown of revenue sources includes:
| Revenue Source | Q3 2024 ($ million) | Q3 2023 ($ million) | Change (%) |
|---|---|---|---|
| Management Fees | $502.8 | $434.9 | 15% |
| Performance Fees | $8.6 | ($15.8) | n/m |
| Shareowner Servicing Fees | $61.4 | $54.9 | 12% |
| Other Revenue | $52.0 | $47.0 | 11% |
| Total Revenue | $624.8 | $521.0 | 20% |
Operating Expenses
Total operating expenses for Q3 2024 were $460.1 million, an increase of 15% from Q3 2023. Key drivers included:
- Employee compensation and benefits: $177.0 million
- Distribution expenses: $133.7 million
- General, administrative, and occupancy: $77.4 million
Profitability Metrics
For the third quarter of 2024, Janus Henderson reported:
- Operating income: $164.7 million (up 35% year-over-year)
- Net income: $27.3 million (down 71% year-over-year)
- Operating margin: 26.4%
- Adjusted diluted earnings per share: $0.91
Investment Performance
As of September 30, 2024, the investment performance of AUM showed that:
| Time Period | Percentage of AUM Outperforming Benchmark |
|---|---|
| 1 Year | 75% |
| 3 Years | 71% |
| 5 Years | 67% |
| 10 Years | 85% |
Liquidity and Capital Resources
As of September 30, 2024, key balance sheet data included:
| Item | Amount ($ million) |
|---|---|
| Cash and Cash Equivalents | $1,439.8 |
| Investments Held | $524.3 |
| Fees and Other Receivables | $270.7 |
| Long-Term Debt | $698.6 |
Shareholder Returns
In the third quarter of 2024, Janus Henderson returned $102.0 million to shareholders through dividends and share buybacks. The Board declared a dividend of $0.39 per share on October 30, 2024.
Debt Structure
As of September 30, 2024, Janus Henderson's debt included:
| Debt Type | Carrying Value ($ million) |
|---|---|
| 4.875% Senior Notes due 2025 | $302.4 |
| 5.450% Senior Notes due 2034 | $396.2 |
How Janus Henderson Group plc (JHG) Makes Money
Revenue Streams
Janus Henderson Group plc primarily generates revenue through several key streams:
- Management Fees
- Performance Fees
- Shareowner Servicing Fees
- Other Revenue
Management Fees
For the third quarter of 2024, management fees totaled $502.8 million, up from $434.9 million in the same quarter of 2023. This represents a 16% increase. For the nine months ended September 30, 2024, management fees reached $1.435 billion, compared to $1.273 billion in the prior year, reflecting a 13% increase.
Performance Fees
Performance fees in Q3 2024 amounted to $8.6 million, a significant recovery from a loss of $15.8 million in Q3 2023. For the nine months ending September 30, 2024, performance fees were $2.9 million, compared to a loss of $36.6 million in the same period of the previous year.
Shareowner Servicing Fees
These fees contributed $61.4 million in Q3 2024, up from $54.9 million in Q3 2023, marking a 12% increase. For the nine months ended September 30, 2024, shareowner servicing fees totaled $177.1 million, compared to $159.7 million in the prior year, an 11% increase.
Other Revenue
Other revenue for Q3 2024 was $52.0 million, up from $47.0 million in Q3 2023, which is an 11% increase. For the nine months ended September 30, 2024, this category generated $149.9 million, compared to $137.2 million in the same period of 2023, a 9% increase.
Financial Summary
| Metric | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Total Revenue | $624.8 million | $521.0 million | $1.764 billion | $1.533 billion |
| Management Fees | $502.8 million | $434.9 million | $1.435 billion | $1.273 billion |
| Performance Fees | $8.6 million | ($15.8 million) | $2.9 million | ($36.6 million) |
| Shareowner Servicing Fees | $61.4 million | $54.9 million | $177.1 million | $159.7 million |
| Other Revenue | $52.0 million | $47.0 million | $149.9 million | $137.2 million |
Assets Under Management (AUM)
As of September 30, 2024, Janus Henderson reported AUM of $382.3 billion, an increase of 24% from $308.3 billion a year prior. This growth was primarily driven by positive market performance and foreign exchange effects.
Investment Performance
As of September 30, 2024, the percentage of AUM outperforming relevant benchmarks was:
| Investment Category | 1 Year | 3 Years | 5 Years | 10 Years |
|---|---|---|---|---|
| Equities | 63% | 61% | 54% | 80% |
| Fixed Income | 98% | 81% | 89% | 93% |
| Multi-Asset | 97% | 96% | 97% | 97% |
| Alternatives | 84% | 94% | 100% | 100% |
| Total | 75% | 71% | 67% | 85% |
Expenses and Operating Income
Total operating expenses for Q3 2024 were $460.1 million, an increase of 15% from $399.3 million in Q3 2023. This increase was driven by higher employee compensation and distribution expenses. Operating income for Q3 2024 was $164.7 million, yielding an operating margin of 26.4%, compared to 23.4% in Q3 2023.
Net Income
Net income attributable to Janus Henderson Group plc for Q3 2024 was $27.3 million, a decrease of 71% compared to $93.5 million in Q3 2023. The decrease was primarily due to a decline in other non-operating income.
Shareholder Returns
In Q3 2024, Janus Henderson returned $102.0 million to shareholders through dividends and share buybacks. The Board declared a dividend of $0.39 per share for the third quarter of 2024.
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Article updated on 8 Nov 2024
Resources:
- Janus Henderson Group plc (JHG) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Janus Henderson Group plc (JHG)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Janus Henderson Group plc (JHG)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.