Reuters reports that asset manager Janus Capital Group [profile] saw profit fall 32 percent in the second quarter. The drop is attributed to customers withdrawing their money from mutual funds. Net income also fell to 8 cents a share or $15.8 million from 13 cents a share or $23.4 million in the second quarter a year ago. Analysts expected 15 cents a share, according to Wall Street Cheat Sheet.

Legg Mason [profile] saw long-term inflows of $200 million for the first time in six years, Seeking Alpha reports. The firm had an AUM of $644 billion, up 2.2 percent from a year ago, and 62 percent of its equity funds beat the category average over a 10 year period, according to Lipper data, Seeking Alpha writes.

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Edited by: Casey Quinlan


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