In Friday's Wall Street Journal's Fund Track column, Sam Mamudi points out that the news that came out of Janus Capital on Thursday wasn't all negative. The Denver fund firm's first quarter earnings have fallen 93 percent, but outflows have stabilized.

"We performed reasonably well in a tough environment," Mamudi quotes Janus CEO Gary Black as saying in a conference call. "Investment performance rebounded sharply and our outflows have stabilized from the fourth quarter."

During the first quarter, Janus saw net outflows of $900 million.  

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