Janus Henderson has seen a return to net fund inflows in the third quarter, as the investment manager pushed ahead with cost cutting following its merger.
The London headquartered, US- and Australia-listed firm drew in net inflows of $700m between July and September, with equities, alternatives and fixed income leading the way.
But the group showed no signs of slacking on the cost-cutting front, announcing it would now hope to make $125m of savings from the merger between Janus and Henderson rather than the initially stated $110m.
Read more:Henderson shares hit as fund manager reports £4bn outflows
It hopes to reach this total within three years of the May deal close, and as of the end of September had already hit $72m.
Part of this has come from slashing around 100 jobs as Anglo-Australian Henderson Group and Denver-based Janus Capital integrated. The group announced today that it would chop more roles as it extended its back-office outsourcing agreement with BNP Paribas.
“Integration across Janus Henderson continues to progress at pace, with our focus concentrated on delivering first-class investment performance and service to our clients,” said co-chief executives Dick Weil and Andrew Formica in a joint statement.
Read more: Janus Capital is merging with Henderson Global Investors to create a $320bn giant
As of the end of September, Janus Henderson's assets under management were up five per cent from the previous quarter at $360.5bn. Earnings per share, of $0.49, had risen 75 per cent.
Net income on a non-adjusted basis rocketed to $99.5m in the third quarter of the year, from $53.4m in 2016, and the group announced a third-quarter dividend of $0.32 per share.
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