Janus Henderson Group PLC

Latest Results (13.05.2026):

Janus Henderson Group PLC — First quarter 2026: The company reported Q1 2026 results for the period ended March 31, 2026, with AUM of about US$480 billion (up ~29% year‑over‑year), Q1 net inflows of US$2.9 billion, GAAP revenue of US$690.0 million and GAAP diluted EPS of US$0.59 (adjusted diluted EPS US$0.90). Operating income was US$113.9 million on a GAAP basis and US$170.8 million on an adjusted basis. The firm continues to report solid multi‑year investment outperformance and is progressing toward a proposed take‑private transaction expected to close mid‑2026, subject to approvals.

AUM and flows

AUM: US$480 billion as of March 31, 2026 (closing AUM reported as US$479.6bn). That is ~29% higher than March 31, 2025. Q1 2026 net inflows were US$2.9 billion (sales US$30.7bn; redemptions US$27.8bn). Market/FX movements reduced AUM by US$16.5 billion in the quarter (opening AUM US$493.2bn → closing US$479.6bn).

Revenue, income and EPS

GAAP revenue: US$690.0 million (Q4 2025 was US$1,142.3m, driven by extraordinary performance fees). GAAP operating income: US$113.9 million; adjusted operating income: US$170.8 million. GAAP operating margin 16.5%; adjusted operating margin 31.5%. Net income attributable to JHG: US$90.9 million (adjusted: US$138.8m). Diluted EPS: US$0.59 GAAP and US$0.90 adjusted.

Investment performance

Percent of AUM outperforming benchmarks (as of March 31, 2026): total AUM — 37% (1‑yr), 66% (3‑yr), 67% (5‑yr), 68% (10‑yr). By capability, Fixed Income and Alternatives show very high multi‑year outperformance (Fixed Income 3/5/10‑yr: 93%/91%/93%; Alternatives ~99–100% across periods). Equities show weaker 1‑yr outperformance (29%) but improved over longer horizons.

Proposed merger / corporate developments

Janus Henderson is progressing toward a take‑private transaction with Trian Fund Management and General Catalyst. Shareholders overwhelmingly approved the deal in April; closing is expected mid‑2026, subject to regulatory approvals, client consents and customary closing conditions. While the transaction is pending, the company is not holding conference calls or webcasts on results.

Other operational and balance sheet highlights

Selected operating expense drivers: employee compensation and benefits US$201.0m, distribution expenses US$148.4m, and general/admin US$128.0m in Q1. Cash and cash equivalents were US$1,381.0m and total assets US$7,802.5m at March 31, 2026. Operating cash flow for the quarter was US$234.8m. The company’s adjusted metrics exclude pass‑through distribution/servicing fees and certain acquisition/transaction and other one‑time items.