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Andrew Formica: encouraged by support for merger

Andrew-FormicaJanus Capital Group and Henderson Global Investors, which merged five months ago, have increased their expected cost savings.

Janus Henderson Group reported its third quarter results today and said it had increased the “merger related annual costs synergy run rate” from US$110 million (€94.8 million) to $125 million.

Q3 net income of $99.5 million reflected an increase of 139% compared to Q2 this year.

Among other announcements were:

   ·  Assets under management (AUM) increased to $360.5 billion, up 5% from the previous quarter
   ·  Net inflows of $700 billion for the quarter
   ·  75%, 77% and 87% of AUM outperforming benchmarks on a one, three and five-year basis

Dick Weil and Andrew Formica (pictured), co-CEOs, said: “We are encouraged by the levels of engagement, support and relationships developing with clients, globally.”

They also announced an operational deal with BNP Paribas Securities Services.

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