Janus Profits Jump After Hiring Bill Gross

Janus Capital Group Inc. posted an 18% jump in profits in the fourth quarter after hiring star bond fund manager Bill Gross in September.

The Denver asset management firm posted its first quarter of net deposits since 2009.

Janus beats estimates

While unveiling its fourth-quarter results today, Janus Capital Group reported its net income jumped to $45.2 million, or 24 cents a share, from $38.3 million, or 21 cents, a year earlier. Its earnings beat the 21-cent average per-share estimate of 12 analysts surveyed by Bloomberg.

The Denver-based firm said that it ended the fourth quarter with $183.1 billion in total assets under management, compared with $174.4 billion in the prior...