Net out flows in long-term assets for Janus totaled $5.9 billion in May, up from $0.7 billion in out flows in April and $2.6 billion in March, the firm reported in a statement on Tuesday.

Growth equity funds and core/blend funds didn't pull their own weight in May, contributing to 68 percent of total net out flows (versus 60 percent of total assets) and 27 percent of total net outflows (versus 14 percent of total assets), respectively.

Officials do not expect any further out flows from the institutional side, saying year-end terminations peaked in May at $3.8 billion. Other than residual from 2003, the firm lost one core/blend institutional account worth $0.5 billion in May.

Individual investors also fled from the firm, withdrawing a net $1.5 billion in May and $1.4 billion in April.

Executives said the out flows would not last: "Gary Black and I are committed to turning the tide on flows and are pursuing three initiatives achieve this objective," said Steve Scheid, Janus' chief executive officer. Black is Janus' president and chief investment officer.

Besides maintaining fund performance, Scheid said "we plan to reinvest in our brand and will be rolling out new ads in early summer with a larger campaign scheduled for the fall." Scheid added that the firm would try to increase through a more "proactive sales effort."

Janus spokeswoman Shelley Peterson declined to comment on the planned initiatives. 

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