Janus Henderson Group plc (NYSE:JHG) Q1 2023 Earnings Conference Call May 3, 2023 8:00 AM ET
Company Participants
Ali Dibadj – Chief Executive Officer
Roger Thompson – Chief Financial Officer
Conference Call Participants
Mike Brown – KBW
Patrick Davitt – Autonomous Research
Daniel Fannon – Jefferies
Craig Siegenthaler – Bank of America Merrill Lynch
Nigel Pittaway – Citigroup
Andrei Stadnik – Morgan Stanley
Alex Blostein – Goldman Sachs
Ken Worthington – JPMorgan
Brian Bedell – Deutsche Bank
Ed Henning – CLSA
Bill Katz – Credit Suisse
John Dunn – Evercore
Operator
Good morning. My name is Candice, and I will be your conference call facilitator today. Thank you for standing by, and welcome to the Janus Henderson First Quarter 2023 Results Briefing. All lines have been placed on mute, during a presentation portion of the call to present any background noise. After the speakers’ remarks, there will be a question-and-answer period. In the interest of time, questions will be limited to one initial and one follow-up question.
In today's conference, certain matters discussed may constitute forward-looking statements. Actual results could differ materially from the projected in the forward-looking statements due to the number of factors, including, but not limited to, those described in the forward-looking statements. The risk factors section of the company's most recent Form 10-K and other more recent filings made in the SEC. Janus Henderson assumes no obligation to update any forward-looking statements made during this call. Thank you.
It is now my pleasure to hand the call over to Ali Dibadj, Chief Executive Officer of Janus Henderson. Mr. Dibadj, please go ahead.
Ali Dibadj
Welcome everyone and thank you for joining us today on Janus Henderson's first quarter 2023 earnings call. I'm Ali Dibadj, I'm joined by our CFO, Roger Thompson. In today's call, I'll start with some thoughts on the quarter before handing it over to Roger to run through the details. After Roger's comments, I'll provide a progress update against our strategic initiatives. And then we'll take your questions following those prepared remarks.
Turning to Slide 2. Market conditions have remained volatile and difficult to navigate. Recession fears, higher interest rates, banking sector worries, particularly regional banks and increasing cautious market sentiment have all contributed to an uncertain market environment. Even with this market backdrop, we are pleased to have delivered a good set of results this quarter.
Assets under management increased 8% to $310.5 billion due to positive markets, FX and $5.5 billion in net inflows. The quarterly flows are from improvements in all channels. Significant inflows into the institutional channel are the result of the hard work and dedication of teams across the firm, as well as nascent confidence among some of the most sophisticated clients and consultants in the world that our firm is on the right track.