Janus Henderson Group (ASX:NYSE:JHG) has announced its decision to voluntarily delist from the Australian Securities Exchange (ASX), effective December 6. The move comes in response to low trading volumes, a drop in CHESS Depositary Interests (CDIs) to 5.5%, and disappointing Q2 results related to user fees. Despite these challenges, the firm plans to maintain its listing on the New York Stock Exchange (NYSE), where it experiences more trading activity.
The company's decision aligns with broader shareholder interests and reflects a global trend of retail investor drop-off. Janus Henderson's decision to delist from the ASX also considers the high costs associated with maintaining its ASX listing due to its Jersey registration.
CEO Ali Dibadj emphasized that Janus Henderson has seen strong market share gains and solid performance, despite Assets Under Management (AUM) falling 4% to US$308.3 billion. The company's global Q3 2023 results show consistent benchmark outperformance and progress, validating their strategy to buy, build, or partner where clients permit.
Despite a better Year-To-Date (YTD) performance on the ASX with a 7.34% increase compared to under 3% growth on the NYSE, the company's shares have a larger market cap on the NYSE (US$4 billion vs A$345.05 million on ASX).
For Q3 2023, Janus Henderson reported US$521 million in revenue, slightly beating estimates across all revenue divisions. This news saw the shares up 3.99%, trading at $37.81 at 11:05 am AEDT.
Janus Henderson ranks at number 182 out of 573 companies in the financials index. It's worth noting that no domestic Australian broker rates Janus Henderson as a 'buy', with nine rating it as a 'sell' and seven as a 'hold'. Shareholders are advised to act promptly to avoid a compulsory sale of their CDIs.
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