Janus Capital Group Inc (JNS)’s Fourth Quarter And Full Year 2014 Earnings Conference Call Transcript

Ken Worthington – JP Morgan

Yes

Dick Weil – Chief Executive Officer

We do not typically disclose this but currently, we have about 19 funds listed on Fidelty and Schwaab select guidance list, which is one way of thinking about an answer to your question compared to 11 at the end of last year so, that’s a significant improvement for us on those two platforms. And I think that’s hopefully reflective of the progress we are making more broadly and hopefully gives you a sense of that in answer to your question.

Ken Worthington – JP Morgan

Right thank you! And then just secondly on the fee rate, the management fee rate had been declining for a number of quarters. It reversed this quarter and again this is extra performance fee. There is a number of components that would drive that.
Can you tell us like how the mix is changing or what the drivers of the mix had been more recently to cause that fee rate, which has been declining to actually turn around and start to improve?

Jennifer McPeek – Chief Financial Officer

Sure Ken, its Jennifer. Actually, the biggest driver is the relative move of markets right now. So, you know we’re seeing flows across the franchise and that really doesn’t affect the balance between fixed income and equity. But when you see the lift in asses due to market moves that’s going to move it around. I don’t think that the move from last quarter to this quarter, which was I think 0.2, is significant. You know its moves around quarter-to-quarter, so it’s not a trend that extrapolates.

Ken Worthington – JPMorgan

Okay great. Thank you very much.