Revenues at Janus Henderson fell in the quarter to 30 September because of a decline in performance fee income from its UK funds.
Janus Henderson’s total revenue for the quarter fell from £370.2m to £363m after a decline in performance fees earned by UK and some European funds, with the higher fees charged on other funds not enough to make up for the fall.
The company’s overall margin grew by 1.5 per cent due to a fall in costs because of the merger of the Janus and Henderson businesses.
Janus Henderson's assets under management increased by 2 per cent to £292bn as net outflows of £3.3bn were offset by positive investment performance.
Dick Weil, chief executive of Janus Henderson, said: "Our third quarter financial results continue to be strong with year-over-year revenue growth and margin expansion of 150 basis points, demonstrating the firm’s enhanced effectiveness of converting higher revenues into higher profits.
"While net flows and recent investment performance are not where we expect them to be, it is also true that we are seeing many areas in our business that are doing well.
"We recognize short-term performance and flow challenges gain particular attention in a quarterly reporting cycle; however, they do not define our long-term value proposition or derail our plans to achieve organic growth. Going forward, we remain committed to our goals of growing market share profitably in each of our key markets."