Janus Capital Group, owners of the Janus, Perkins and Intech fund families, led asset-manager declines after investors continued to exit its funds in June.
The Denver-based firm fell 6.8 percent Monday in New York Stock Exchange composite trading, losing the most among Standard & Poor’s 18-company index for asset managers and custody banks. The index fell 3.9 percent over concern that Europe’s debt crisis might threaten Italy.
“It was a terrible month for the industry, but given they are mostly in equities and the relative poor performance of their funds, Janus will look worse than the others,” said Jason Weyeneth, an analyst in New York with Sterne, Agee & Leach.
Janus’s 20 largest stock and bond mutual funds, representing about 55 percent of assets under management, lost an estimated $954 million to client withdrawals in June, according to data compiled by Bloomberg.
Investors pulled a net $18.5 billion in the past seven quarters and more than $2 billion from mutual funds in the three months ended June 30.
Janus fell 67 cents to $9.16 on Monday. Shares have declined 29 percent this year.
