Report Industry Investment Rating No information provided in the report. Core Viewpoints of the Report - Last week in the US, 37 new ETF products were issued, with an acceleration in issuance, including products that both increase and decrease concentration. The factor rotation ETF had inflows of over $1 billion, and Bitcoin products outperformed Ethereum products. In May 2025, the total non - money public funds in the US increased, and from July 2nd to 9th, domestic stock funds had outflows while bond products had inflows [2]. Summary According to the Table of Contents 1. US ETF Innovation Products: Products with Increased and Decreased Concentration Issued Simultaneously - 37 new products were issued last week, involving series products from multiple companies. Direxion, Leverage Shares, etc. expanded single - stock leveraged and inverse products. WEBs issued the Defined Volatility series products. Invesco and Janus Henderson issued bond products. Crossmark issued large - cap growth and value ETFs, and Defiance issued an AI and power infrastructure ETF. Roundhill expanded its weekly leveraged + dividend ETFs [5][6][7]. - Xtrackers issued an industry - diversified product, SPXD, which tracks the S&P 500 Diversified Sector Weight Index and distributes weights based on sub - industry revenues. Its first - largest weighted stock is Berkshire Hathaway, with a weight of about 3.7%, and the weights of other stocks are below 2%. Global X issued the PureCap series products to address US regulatory restrictions on ETF shareholding ratios [8][11][12]. 2. US ETF Dynamics 2.1 US ETF Funds: Factor Rotation ETF Inflows Exceeded $1 Billion - Last week, stock ETFs had inflows of over $16 billion, with similar inflows for domestic and international stocks. Bond ETFs had more domestic inflows than international ones, and Bitcoin and commodity ETFs continued to have inflows. The factor rotation products had single - week inflows of over $1 billion and their current scale has exceeded $20 billion. The top out - flowing products were mainly S&P 500 ETFs from State Street and BlackRock [13][14]. 2.2 US ETF Performance: Bitcoin Products Outperformed Ethereum - Since the beginning of this year, the cryptocurrency market has attracted attention. The total scale of relevant US ETFs has exceeded $150 billion. The BlackRock Bitcoin ETF is close to $90 billion, and the BlackRock Ethereum ETF exceeds $10 billion. Bitcoin has a year - to - date increase of about 25%, while Ethereum products have an increase of less than 10%, and BlackRock's products have relatively good performance [17]. 3. Recent Capital Flows of US Ordinary Public Funds - In May 2025, the total non - money public funds in the US were $21.91 trillion, an increase of $0.85 trillion from April 2025. The S&P 500 rose 6.15% in May, and the scale of domestic US equity products increased by 5.49%, slightly lower than the stock increase. From July 2nd to 9th, domestic US stock funds had total outflows of about $7.5 billion, and bond product inflows expanded to $7.58 billion [21].

Core Insights - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] - Janus Henderson Group plc (JHG) currently holds a Momentum Style Score of B, indicating a favorable position in momentum investing [2] - JHG has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [3] Performance Metrics - JHG shares have increased by 0.75% over the past week, outperforming the Zacks Financial - Investment Management industry, which rose by 0.62% [5] - Over the last quarter, JHG shares have risen by 29.03%, and by 20.6% over the past year, compared to the S&P 500's increases of 18.84% and 15.9%, respectively [6] - The average 20-day trading volume for JHG is 997,040 shares, indicating a bullish sign with rising stock prices [7] Earnings Outlook - In the past two months, five earnings estimates for JHG have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $3.38 to $3.51 [9] - For the next fiscal year, five estimates have also moved upwards without any downward revisions [9] Conclusion - Given the positive performance metrics and earnings outlook, JHG is positioned as a strong momentum pick with a Momentum Score of B and a Zacks Rank of 1 (Strong Buy) [11]

Core Viewpoint - Janus Henderson Group plc (JHG) is anticipated to report a year-over-year decline in earnings despite an increase in revenues for the quarter ended June 2025, with actual results being a significant factor influencing its near-term stock price [1][2]. Earnings Expectations - The upcoming earnings report is expected to show quarterly earnings of $0.82 per share, reflecting a year-over-year decrease of 3.5%, while revenues are projected to be $624 million, representing a 6.1% increase from the previous year [3]. - The consensus EPS estimate has been revised 11.07% higher in the last 30 days, indicating a reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that the Most Accurate Estimate matches the Zacks Consensus Estimate, resulting in an Earnings ESP of 0%, suggesting no recent differing analyst views [12]. - The stock holds a Zacks Rank of 1 (Strong Buy), which typically enhances the predictive power of the Earnings ESP [10][12]. Historical Performance - In the last reported quarter, Janus Henderson Group exceeded the expected earnings of $0.72 per share by delivering $0.79, resulting in a surprise of +9.72% [14]. - The company has successfully beaten consensus EPS estimates in the last four quarters [15]. Conclusion - While Janus Henderson Group does not appear to be a strong candidate for an earnings beat based on current estimates, other factors should also be considered by investors when making decisions regarding the stock ahead of the earnings release [18].

Investors looking for stocks in the Financial - Investment Management sector might want to consider either Janus Henderson Group plc (JHG) or KKR & Co. Inc. (KKR) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revision ...

Company Overview - Janus Henderson Group plc (JHG) currently has a Momentum Style Score of B, indicating a positive outlook based on its recent price trends and earnings estimate revisions [2][11] - The company holds a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3][11] Price Performance - Over the past week, JHG shares have increased by 4.03%, outperforming the Zacks Financial - Investment Management industry, which rose by 1.91% [5] - In a longer time frame, JHG's monthly price change is 8.73%, compared to the industry's 3.92% [5] - Over the last three months, JHG shares have risen by 27.84%, and over the past year, they are up 16.96%, while the S&P 500 has increased by 23.56% and 13.28%, respectively [6] Trading Volume - JHG's average 20-day trading volume is 863,183 shares, which serves as a baseline for price-to-volume analysis [7] Earnings Outlook - In the past two months, two earnings estimates for JHG have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $3.34 to $3.44 [9] - For the next fiscal year, two estimates have also moved upwards, indicating a positive trend in earnings expectations [9]

Core Viewpoint - The article compares Janus Henderson Group plc (JHG) and SEI Investments (SEIC) to determine which stock is more attractive to value investors [1] Valuation Metrics - Both JHG and SEIC currently hold a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions and improving earnings outlooks [3] - JHG has a forward P/E ratio of 11.50, while SEIC has a forward P/E of 19.08 [5] - JHG's PEG ratio is 1.36, compared to SEIC's PEG ratio of 1.59, suggesting JHG may offer better value relative to its expected earnings growth [5] - JHG has a P/B ratio of 1.27, while SEIC's P/B ratio is significantly higher at 4.95, indicating JHG is more attractively valued based on book value [6] - JHG earns a Value grade of B, while SEIC receives a Value grade of C, further supporting JHG as the superior value option [6][7]

Core Viewpoint - Janus Henderson Investors aims to assist clients in achieving their long-term financial goals through active management, emphasizing the importance of translating ideas into action and building partnerships for optimal client outcomes [1] Company Overview - Janus Henderson Investors was formed in 2017 from the merger of Janus Capital Group and Henderson Global Investors, reflecting a commitment to adding value through active management [1] - The company promotes a collaborative team environment, which is encapsulated in their "Knowledge. Shared" ethos, fostering dialogue and empowering clients to make informed investment decisions [1] Investment Approach - The investment managers at Janus Henderson have the flexibility to adopt strategies that align with their areas of expertise, ensuring a tailored approach to investment management [1]

Core Insights - Janus Henderson Group plc (JHG) reported revenue of $621.4 million for Q1 2025, marking a year-over-year increase of 12.6% and an EPS of $0.79, up from $0.71 a year ago, with both figures exceeding analyst expectations [1][2] Financial Performance - The revenue of $621.4 million surpassed the Zacks Consensus Estimate of $619.94 million by +0.24% [1] - The EPS of $0.79 exceeded the consensus estimate of $0.72, resulting in an EPS surprise of +9.72% [1] - Average Assets under Management (AUM) totaled $386.4 billion, exceeding the average estimate of $370.53 billion [4] - Management fees revenue was reported at $513 million, above the average estimate of $505.91 million, reflecting a year-over-year increase of +11.7% [4] - Other revenue was $50.60 million, slightly below the average estimate of $52.20 million, but still showing a +5% year-over-year change [4] - Shareowner servicing fees reached $61.40 million, slightly above the estimated $61.09 million, with a +7.3% change compared to the previous year [4] Market Performance - Over the past month, shares of Janus Henderson Group have returned -9.8%, underperforming the Zacks S&P 500 composite's -0.7% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance in the near term [3]

Financial Data and Key Metrics Changes - Assets under management decreased by 1% to $373.2 billion, partially offset by $2 billion of positive net flows and favorable currency adjustments [6][9] - Adjusted diluted EPS increased by 11% to $0.79 compared to Q1 2024 [9][27] - Adjusted revenue decreased by 14% compared to the prior quarter but increased by 14% year-over-year due to higher management fees [22][27] Business Line Data and Key Metrics Changes - Net inflows for the quarter were $2 billion, a significant improvement from net outflows of $3 billion a year ago, driven by a 44% increase in gross sales [13][19] - Fixed income net inflows were $5.6 billion, compared to $5.2 billion in the prior quarter, with active fixed income ETFs leading the positive flows [19][20] - Equity flows were negative $4.2 billion, reflecting a challenging environment for active equities [19] Market Data and Key Metrics Changes - The U.S. intermediary channel experienced positive net flows for the seventh consecutive quarter, with contributions from various strategies including active ETFs and U.S. mid-cap growth [15][16] - Asia Pacific intermediary net flows were positive for the third consecutive quarter, marking the best result in over three years [17] - Institutional net inflows were $800 million, including $600 million of ETF net inflows [17] Company Strategy and Development Direction - The company announced a multifaceted strategic partnership with Guardian Life Insurance Company, managing a $45 billion investment-grade public fixed income portfolio [4][41] - The strategic vision focuses on protecting and growing core businesses, amplifying strengths, and diversifying where clients provide opportunities [31][32] - The company aims to leverage M&A as a means to amplify and diversify its business, with a focus on high-growth areas [33][36] Management's Comments on Operating Environment and Future Outlook - Management acknowledged tumultuous market conditions but expressed confidence in navigating uncertainty due to a global footprint and diverse client base [5][6] - The long-term investment performance remains solid, with over 65% of assets beating benchmarks over three, five, and ten-year periods [8][12] - Management emphasized the importance of active management in capitalizing on market dislocations and opportunities [8][46] Other Important Information - The company announced a 3% increase in the quarterly dividend and a new share buyback authorization of up to $200 million through April 2026 [9][29] - Adjusted operating expenses decreased by 9% to $330 million compared to the prior quarter, reflecting cost discipline [23][25] - The company expects to maintain a tax rate on adjusted net income in the range of 23% to 25% [27] Q&A Session Summary Question: Thoughts on CLO ETF capacity and liquidity - Management noted that they hold about 80% market share in the CLO ETF category and have seen stable flows despite market volatility [52][54] Question: Next steps for institutional channel performance - Management highlighted a significant increase in RFP activity and consultant support, indicating a positive outlook for institutional flows [58][60] Question: Opportunities with the Guardian partnership - Management expressed optimism about enhancing Guardian's investment capabilities and leveraging their distribution platform for growth [66][70] Question: M&A interest and market conditions - Management indicated a very active M&A environment and a disciplined approach to potential acquisitions, with a narrowing bid-ask spread [72][74] Question: Organic growth expectations for the Guardian AUM - Management expects continued growth in the $45 billion AUM from Guardian, aligning with their growth trajectory [78][80] Question: Active management opportunities in 2025 - Management sees significant opportunities for active management amidst market dislocation, emphasizing their global reach and investment expertise [86][90] Question: Regional demand differences in intermediary and institutional channels - Management noted stability in the institutional channel and ongoing strength in Asia and Latin America, despite some concerns in EMEA and the U.S. [95][96]

Financial Data and Key Metrics Changes - Assets under management decreased by 1% to $373.2 billion, with market declines partially offset by $2 billion of positive net flows and favorable currency adjustments [6][10] - Adjusted diluted EPS increased by 11% to $0.79 compared to Q1 2024, with operating income up 22% year-over-year [9][23] - Adjusted revenue decreased by 14% compared to the prior quarter but increased by 14% year-over-year due to higher management fees [23][24] Business Line Data and Key Metrics Changes - Net inflows for the quarter were $2 billion, a significant improvement from net outflows of $3 billion a year ago, driven by a 44% increase in gross sales [13][20] - Fixed income net inflows were $5.6 billion, compared to $5.2 billion in the prior quarter, with active fixed income ETFs leading the positive flows [20][21] - Equity flows were negative $4.2 billion, reflecting a challenging environment for active equities [20] Market Data and Key Metrics Changes - The U.S. intermediary channel experienced positive net flows for the seventh consecutive quarter, with contributions from various strategies including active ETFs and U.S. mid-cap growth [15][16] - Asia Pacific intermediary net flows were positive for the third consecutive quarter, marking the best result in over three years [17] - Institutional net inflows were $800 million, including $600 million of ETF net inflows, indicating increased interest from institutional clients [17] Company Strategy and Development Direction - The company announced a strategic partnership with Guardian Life Insurance Company, managing a $45 billion investment-grade public fixed income portfolio, which is expected to enhance growth and institutional reach [42][43] - The strategic pillars focus on protecting and growing core businesses, amplifying strengths, and diversifying where clients provide opportunities [32][34] - The company is actively pursuing M&A opportunities to enhance growth and leverage its strong balance sheet [34][71] Management's Comments on Operating Environment and Future Outlook - Management acknowledged tumultuous market conditions but expressed confidence in navigating uncertainty due to a global footprint and diverse client base [5][6] - The long-term investment performance remains solid, with over 65% of assets beating benchmarks over three, five, and ten-year periods [8][12] - Management emphasized the importance of active management in capitalizing on market dislocations and opportunities [8][86] Other Important Information - The company announced a 3% increase in the quarterly dividend and a new share buyback authorization of up to $200 million through April 2026 [10][30] - Adjusted operating expenses decreased by 9% to $330 million compared to the prior quarter, reflecting cost discipline [24][26] - The liquidity profile remains strong, with cash and cash equivalents at $1.1 billion, a 19% increase year-over-year [29][30] Q&A Session Summary Question: Thoughts on CLO ETF capacity and liquidity - Management noted that they hold about 80% market share in the CLO ETF category and have seen stable flows even during market volatility [52][54] Question: Next steps for institutional channel performance - Management highlighted a significant increase in RFP activity and consultant support, indicating a positive outlook for institutional flows [56][58] Question: Opportunities for growth with Guardian - Management expressed optimism about enhancing Guardian's investment capabilities and leveraging their distribution platform for mutual growth [66][68] Question: M&A interest and market conditions - Management indicated a very active M&A environment and a reduction in the bid-ask spread, while remaining disciplined in their approach [71][73] Question: Organic growth expectations for the insurance client business - Management expects continued growth in the $45 billion AUM from Guardian, emphasizing the potential for further asset acquisition in the insurance sector [77][79] Question: Active management opportunities in 2025 - Management sees significant opportunities arising from market dislocations and a strong demand for active management strategies [84][86] Question: Regional demand differences in intermediary and institutional channels - Management noted stability in institutional channels while acknowledging some volatility in intermediary channels, particularly in EMEA and the U.S. [94][96]