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NEW YORK & LONDON - The Guardian Life Insurance Company of America (Guardian) and global asset manager Janus Henderson Group plc (NYSE: JHG) have announced a strategic partnership, with Janus Henderson set to manage Guardian's $45 billion investment grade public fixed income portfolio. The portfolio comprises investment grade corporates and securitized credit.
Guardian professionals who currently oversee the applicable asset classes will have the opportunity to join Janus Henderson, aiming to ensure continuity in asset management and bolster Janus Henderson's insurance investment capabilities.
The partnership will result in Janus Henderson overseeing more than $147 billion in fixed income assets globally and over $109 billion for global insurance companies, positioning the firm as a top-15 unaffiliated insurance asset manager.
Guardian is also slated to provide up to $400 million in seed capital for Janus Henderson's fixed income product innovation, which includes active fixed income ETFs such as JAAA, JBBB, JSI, JMBS, and VNLA.
Additionally, Guardian will receive equity warrants and other economic considerations from Janus Henderson, which is part of a shared objective to fuel growth and create value.
The two companies will co-create proprietary, multi-asset solution model portfolios for Guardian’s broker-dealer and registered investment advisor, Park Avenue Securities (PAS), which manages around $58.5 billion in client assets.
Guardian Chairman and CEO Andrew McMahon highlighted the partnership's alignment with long-term growth and client service enhancement. Janus Henderson CEO Ali Dibadj expressed honor in partnering with Guardian, emphasizing the partnership's foundation on shared values and a focus on client outcomes.
The transaction is anticipated to conclude by the end of the second quarter of 2025.
This news is based on a press release statement.
In other recent news, Janus Henderson Group has been in the spotlight with several updates. The company announced an extension of its exchange offer for $400 million in outstanding senior notes, originally set to expire on March 25, 2025, now extended by one day. On the financial analysis front, BofA Securities upgraded Janus Henderson's stock rating from Neutral to Buy, despite reducing the price target to $43 due to a significant earnings estimate reduction for 2027. Meanwhile, TD Cowen maintained its Buy rating with a $51 target, highlighting the company's resilience and potential for long-term growth, despite current market challenges.
UBS also upgraded Janus Henderson's stock from Neutral to Buy, raising the price target to $50, citing positive developments such as improved net flows and stable management fee rates. JPMorgan echoed this sentiment, upgrading the stock to Overweight and increasing the price target to $53, attributing the optimism to the firm's ongoing transformation and strategic initiatives under CEO Ali Dibadj. The analysts from these firms have noted Janus Henderson's potential for growth, supported by its strong balance sheet and innovative strategies. These recent developments reflect a growing confidence in Janus Henderson's ability to navigate the competitive asset management landscape and capitalize on emerging opportunities.
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