Feb 5 (Reuters) – Fund manager Janus Henderson Group reported a 77.4 percent slump in its fourth-quarter profit on Tuesday due to higher outflows amid heightened market volatility.

The company on Monday announced the retirement former Pimco boss Bill Gross, after a disappointing run as a head of Global Unconstrained Bond Fund.

Net income attributable to the company fell to $106.8 million, or 54 cents per share, in the quarter ended Dec. 31, from, $471 million, or $2.32 per share, a year earlier when the company recorded a $340.7 million tax gain.

Assets under management fell here 11.4 percent to $328.5 billion in the reported quarter.