The group's earnings were boosted by new US tax laws.

Janus Henderson, the global asset manager, saw its total revenues jump 10 per cent in the fourth quarter, driven by performance fees and higher average assets under management.

The firm’s net income in the fourth quarter of 2017 was $471.7 million, compared with $37.8 million logged in the same period of the previous year. This figure, however, was boosted by a one-time non-cash benefit of $340.7 million related to new US tax legislation. Net income on an adjusted basis, altered to account for the tax benefit and acquisition-and transaction-related costs, was $147.9 million, a 30 per cent increase from the third quarter.

The London-headquartered group saw its assets swell to $370.8 billion, up 3 per cent from 30 September, 2017, and up 16 per cent from the fourth quarter of 2016 on a pro forma basis. 

Diluted earnings per share were $2.32, up from $0.49 in the third quarter but boosted heavily by $1.67 per share related to the tax benefit. Diluted earnings per share increased 30 per cent on an adjusted basis from the previous quarter. 

Dick Weil and Andrew Formica, co-chief executivesof Janus Henderson Group, said: “2017 was a landmark year for Janus Henderson Group. Investment performance is strong, which is a testament to the quality of our investment teams and an endorsement of our commitment to active management. Despite outflows in 2017, we continue to see strong levels of engagement and support from our clients globally and remain encouraged by developing relationships.”

The pair continued: “As we look ahead to 2018, we are well-positioned to take advantage of the momentum we are seeing in many areas of our business. Certainly, there is still work to be done; however, we remain committed to providing superior client, shareholder and employee experiences and are excited about the future for Janus Henderson.”