Janus Henderson loses top investor as client exodus persists

Janus Henderson Group Plc is losing its biggest shareholder as the fund manager fails to stem a client exodus that’s lasted for more than three years.

Trian Fund Management has a 9.9 stake in Janus Henderson. Trian Chief Executive Officer Nelson Peltz said in October that asset managers need more scale to compete with the likes of BlackRock Inc., and that he expected more deals in the industry. | Photo: Keith Srakocic/AP/Ritzau Scanpix/AP

Dai-ichi Life Holdings Inc. plans to sell its nearly 17 percent stake after deciding to focus investment on its global insurance business, Janus Henderson said in a statement on Thursday. The holding is valued at nearly USD 1 billion, according to Bloomberg calculations, and the asset manager said it plans to buy as much as USd 230 million of the stock in the offering.

Janus Henderson announced the sale alongside full-year results, which showed that investors were continuing to desert the firm’s funds. While the USD 1.1 billion outflows in the fourth quarter were the least since shortly after the asset manager’s creation in a mid-2017 merger, overall withdrawals last year amounted to more than USD 24 billion.

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