Janus Henderson suffers outflows as investors head for exit

London-headquartered fund manager Janus Henderson saw more than $18 billion (£13.8 billion) walk out of the door last year as stock pickers remained under pressure from wild markets.

Assets under management ended the year 13% lower at $328.5 billion, reflecting a $24 billion minus from plunging stock markets and a net outflow of $18.1 billion.

December was one of the worst months on the stock market in recent years, with equity indices nudging towards bear market territory. More than $8 billion was pulled by investors in the final three months alone.

Janus Henderson chief executive Dick Weil said: “We faced the same global market challenges and headwinds as the wider industry, combined with an aggregate $18 billion outflow, which was disappointing.”

The company was formed from a merger between American firm Janus and fund manager Henderson in 2017. The shares have been weak since the merger, but Weil said in a statement 2018 was a year of “transformation” for the company.

“I am very pleased that we were able to complete our integration efforts,” he said.

Weil was originally co-chief executive alongside Henderson’s Andrew Formica, although Formica stepped down last August. Wall Street’s ‘bond king’ Bill Gross also announced this week he was stepping down as a Janus adviser.