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

The number one thing that drives our retail sales is investment performance, clearly. And we had some funds on the equity side in particular that have put up some very strong performance in recent periods and then successful at gathering assets domestically and abroad. You know when it comes to mind, our healthcare fund is terrific and has had very strong record and is one of the big drivers of flow success in the channel. So, you know I would say that sometimes people look at this state and try and make it more complicated than it is. For the most part, long term performance it takes the outcome and then you know the intersection of that with investor appetite where people are currently focused in their investing. And we have done a good job improving our standing across a number of funds, global life, balanced, enterprise, contrarian, to name a few. And have put up very strong records in our gathering assets effectively in the retail channel. So that is as good an answer as I can give you.

Dan Fannon – Jefferies

Okay, that’s helpful and then just can you quantify what was contributing in terms of flows in the quarter? And then discuss potentially the opportunity for you know growths through that channel and the products, as well as you know, other potential areas within the franchise that you see as potential distributors for?

Dick Weil – Chief Executive Officer

Yes, I guess the story is slightly more broad and complicated than just Daiichi. Daiichi has a 50% affiliate ownership with the company called DIAM and DIAM distributes through banks, including the other 50% owner of DIAM which is Mizu Bank in Tokyo. So if you look at Daiichi Life together with its affiliate DIAM they have done a terrific job in partnering with us. We managed as of December 31st approximately 2.5 billion assets for DIAM up from 2.1 the prior to the quarter. And that reflects some very successful selling of global life balances and smith strategies by DIAM which is part of that broader story we have talked about across the quarters which is that Daiichi life has just been a really terrific owner and partner for us.

Dan Fannon – Jefferies

And the potential opportunity you see with Gross through that channel in his products?