On Friday (22 March) Janus Henderson released its 2018 annual report, which showed an aggregate $25 billion (US$18 billion) of net outflows. AUM fell from $370.8 billion to $328.5 billion.
The report shows that CEO Richard Weil received a base salary increase from $809,000 (US$575,000) to $915,000 (US$650,000), effective 1 August 2018, at the time of his appointment from joint-CEO to sole CEO. In January, it increased again to a million dollars, or US$725,000. His total compensation amounted to $11.2 million (US$7.930 million).
He also received $422,000 (US$300,492) in relocation benefits as a result of his 2017 move to the UK from the US to take up the top job.
In his CEO message, Mr Weil described the group’s investment performance as “mixed” during 2018, a year that saw the company’s AUM fall from $370.8 billion to $328.5 billion.
“Across the global equity markets, 2018 reflected a year of volatility,” Mr Weil said, describing the group’s calendar 2018 results as “mixed”.
“One well-known measure of US retail investor sentiment (the Bull-Bear spread) perfectly illustrated the degree of volatility that we saw impact the market throughout the year. In January, this spread was in the top 97 per cent of all-time readings, by the end of December, the spread had fallen below the third percentile of all-time readings, reflecting the sheer contrast of market sentiment over the course of the year,” he said.
“Against this backdrop, our investment performance during the year was mixed across our diverse set of capabilities.”
Janus Henderson’s share price is down approximately 22 per cent since March 2018.
Mr Weil has been instrumental in the merger between Janus Capital and Henderson Global Investors. Janus Henderson is listed in both Sydney and New York with a head office in London.