Janus Capital, the asset management group, saw full year net income fall 50% to $87.8m (€72m) last year compared to the year before despite achieving positive fund flows for the first time since 2000.

Net income for the fourth quarter last year was $10.8m, down from $18.2m a year ago. Average assets under management in the fourth quarter were $142.6bn, up from $134.9bn in the same period a year ago.