(Adds CEO comment, background) Feb 5 (Reuters) - Fund manager...

(Adds CEO comment, background)

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

The company's assets under management fell 11.4 percent to $328.5 billion in the quarter.

"We faced the same global market challenges and headwinds as the wider industry, combined with an aggregate $18 billion outflow, which was disappointing," Chief Executive Officer Dick Weil said.

Financial market turmoil in the last quarter of 2018 prompted investors to pull out money from risk-sensitive assets, hurting the bottom line of fund managers around the globe.

Last week, Janus Henderson announced the closure of its three Australian equities funds due to tough fund-raising conditions, and said it will return nearly A$490 million ($354.86 million) to investors.

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.

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

($1 = 1.3808 Australian dollars)