4 Cash and investments Roger Thompson Chief Financial Officer INVESTMENT PERFORMANCE Total flows (inbillions)Q12024Q42023DecreasefromQ42023adjustedrevenuedrivenprimarilybylowerperformancefeespartiallyoffsetbyhigheraverageAUMNetflowsof(3.0) billion compared to (3.1)billioninQ42023Note:Fullperformancedisclosuresdetailedintheappendixonslides25and26.Intermediary( in billions) Net sales / (redemptions) Janus Henderson Thursday, May 2, 2024 INVESTING IN A BRIGHTE ...