Janus Capital Group swung to a profit in the first quarter, aided by a rise in investment fees and absent prior year write-downs but shares traded lower as the company's results missed analysts' expectations and saw net outflows of $1.9bn (€1.4bn).

The bulk of these outflows stemmed from the company's unit, Intech Investment Management, which uses a quant strategy, or mathematical models, to select stocks. Investors pulled as much as $4.3bn out of this unit in the first quarter.