Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only Money Management Executive can deliver.
  • Exclusive Online Only Content
  • Free Daily Email News Alerts
  • Asset Management Blogs

Fund Forward

Janus Said to be Finally Rising Out of Purgatory'

Although there have been a smattering of articles about a reformation at Janus Capital appearing over the past few months, none has been as colorful or as compelling as one last week in Kiplinger's Personal Finance.

Harking back to the days when founder Tom Bailey used to show recruits a video called "This Ain't No Wall Street Joint," in which he appeared on horseback to emphasize the Denver culture, all the way up to the technology craze of the late 1990s, when Janus was pulling in $1 billion in assets a day, the article makes a strong case for a turnaround.

For the first time since the bear market of 2000-2002 and the mutual fund trading scandal that so tarnished its image, Janus appears to be rising out of "purgatory," as Kiplinger's puts it.

Investors have stopped their massive net withdrawals, apparently buoyed by improved performance and a change in leadership. Over the past one- and three-year periods, three-quarters of Janus's funds rank in the top 30% of their peers. Whereas net withdrawals were $29 billion in 2004, $16 billion in 2005 and $10 billion in 2006, Janus expects modest inflows this year.

The only caveat to this good news is that Janus executives say they have not changed the company's "maverick" strategy for picking stocks. So, why should investors trust Janus? Because while it does give its portfolio managers more latitude than other investment management firms, it is a far more disciplined company than it was when a majority of its funds were overloaded with technology stocks.

The firm has hired more analysts. In 1999, there were only 19 analysts with an average of less than two years of experience each, covering 500 companies. In addition, Janus has discontinued the practice of rapidly promoting these neophytes to portfolio managers. Today, the analysts at Janus have more than 10 years of experience, the company has broadened the number of stocks they follow to 1,250, and a risk director makes sure that funds don't all pile too heavily into the same stock or build too heavily an exposure to high-risk securities. Further, Janus now ties portfolio managers' compensation not to assets under management but to performance, and Janus is more willing to close a fund once it reaches an unwieldy size. Finally, the firm also sells its funds through brokers.

(c) 2007 Money Management Executive and SourceMedia, Inc. All Rights Reserved.

Recent Posts

Mutual Funds Must Go High-Tech-v. 3.0

Over the last number of years, mutual fund transfer agencies and shareholder communications companies have tried to convince shareholders to accept paperless summary prospectuses, proxies, trade confirmations and electronically stamped signatures. Fund supermarkets and web home pages have broadened their horizons to include market commentary, videostreaming and personal financial news. At the same time, exchange-traded funds, funds-of-funds, hedge FoFs, unified managed accounts, target dates, 401(k) auto enrollment and heightened awareness among people throughout the country of the difficulties of being retired-have taken off.

Test of the Massey Mine

Fund giant boards of directors at AllianceBernstein, American Funds, Fidelity, Vanguard and others are reportedly starting to bring about meaningful change in the corporations in which they are invested. Proof should come any day now, when the shareholder proxy votes from the annual meetings are released. Fund chief executive officers spoke about the power and influence their proxies wield in an interesting Reuters article last week, "Mutual Funds Seek to Shed 'Rubber Stamp' Tag."


In 2011, 401(k) plans will turn 30, but the milestones the mutual fund industry has reached in this time are but a nanosecond in the history of U.S. retirement policy. Executives we interviewed for this special edition of Money Management Executive for the Investment Company Institute's meeting in Washington, speak to important milestones of the recent past and into the future. Look inside for observations and forecasts by Ted Benna, Robert L. Reynolds, Dan Fuss, David C. John, Steven Miyao and others.

At Age 30, It's Time for a Revamping for the 401(k)

This year marks the 30th anniversary of the 401(k), the revolutionary retirement savings vehicle that has been annihilating pension plans, empowering individuals to take part in the stock market-and, sadly, that left retirees with the misfortune of leaving the workforce in 2000 or 2008 very badly off. The cracks in the system are prompting many asset managers, regulators and retirement experts to take a hard look at 401(k)s and how they can be fixed.

Index of Posts


Decorative painting and landscape painting, art paintings for sale have a high artistic level and ornamental value.abstract art paintings We can Glimpse from the style of beauty and local culture, experience the deco paintings Composition layout of the whole painting light and dark has caused exude amood, ie,art paintings dense and thick, colorful, gleaming, makes the whole picture and intricate,beautiful, give a sense of the people relaxed and happy.

Posted by: jiade j | May 14, 2012 3:10 AM

The NBA announced the first annual awards. NBA Shop The SAN Antonio spurs coach gregg popovich won NBA2011-12 season of "the best coach". Tracy Mcgrady Shoes Gregg popovich led the spurs veterans staged the lockout-shortened season "miracles", Zoom Kobe 7 Shoes in the western conference amongst the elite is obtained in the top of the charts the regular season record. kobe zoom 6 At the same time, the spurs also created the continuous 15 season NBA playoff record of march.

Posted by: jiade j | May 14, 2012 3:09 AM

In particular, products from coach factory outlet with leather design are fashionable, handmade,leading the wave of American pop.It with simple,durable and unique style to win consumers.The coach factory online make no guarantees to their inventory so you may lose a really great deal or style simply because you did not act.To find a Coach Bag of any size, color or style to fit your needs at the coach factory outlet online is a very necessary thing for every beautiful woman.

Posted by: yan l | May 4, 2012 9:27 PM

mulberry uk create super shock many of the style with may completely different role.It has however getting confirmed how they insure the fact that merchandise you purchase will genuinely be reliable mentor product to mulberry uk outlet.

Posted by: online4426 o | April 23, 2012 1:33 AM

You will find A-list celebrities such as Sarah Jessica Parker, Janet Jackson and Nicole Kidman wearing cheap new era hats. Since it's conception, the red bull new era hats has been produced into a variety of designs, colors, shapes, and styles that have won top picks of millions of women the world over. You are sure to find something of your liking when shopping from either a new era baseball hats store or outlet for. Many of the listed cincinnati reds hats found in the main stores or department stores can be found in the outlets, so get out there and start shopping! herve leger is incredibly popular, and the collectable nature of these beautiful pieces of means that many people are searching for them online. As with any designer label, there will always be companies selling herve leger dress, however when you are buying online how can you be sure that what you are purchasing is the genuine . If you are buying directly from the official herve leger clothing, then you are of course going to be getting the real deal.

Posted by: juckes j | April 12, 2012 3:07 AM

My sister is working in the Burberry Outlet Stores, she said that they don't have the Burberry Outlet Online website at all ,all of the webiste that are selling Cheap Burberry Handbags are not real ,they may be selling the copys of burberry with high quality.

Posted by: damon g | March 19, 2012 10:30 PM

The brand names who specialise in just Moncler Mens Coats are growing in popularity and noteriety, and New Moncler Down Jackets are widely offered on the web and in selected large Moncler Women Jackets. 1 well recognized French brand name is 'Weekend a la Mer', and they offer you a smaller but stylish and sophisticated Moncler Mens Jackets. Being a French brand Discount Moncler Mens they certainly offer both warmer selections for the Winter via to Spring months, as well as

Posted by: feg g | January 4, 2012 7:59 PM

The north face of the huge peaks cheap north face uk of 10,030 women in the highest level of calculation the amount realized Minnesota's winter resort resort offers.the huge yellow and black in the cool mountains of the appearance of crow's Cross Country skiing.2011.Mount the New Zealand campIt is absolutely connected to it because cheap north face jackets uk there is no relation to the products and any marks are often called visionary mark. the player search or playing nike air max 2011 overseas, considering Endless speculation is just about.The National There's something Association. At some point, you "B" I do not remember what that means Broken, perhaps? Business unusual: Gerald Wallace, without cover-back-in-the story of Charlotte, Oregonian, and we can talk nike air max 95 business.

Posted by: fds d | January 4, 2012 12:32 AM

Mulberry Bags are hot sale with free shipping in Mulberry Outlet Store. Welcome you come here,come our uggs outlet stores. ugg outlet stores is the best stores of ugg boots outlet,offer all kinds of cheap ugg sale. Ugg outlet store sales various of discount uggs products,including boots, sandals, slipper, welcome to ugg outlet store to buy high quality products. Buy Mulberry Bags enjoy top fashion and save up to 70% off now. Discount Mulberry bags sale,Mulberry Outlet.Buy Mulberry bags from our Mulberry factory shop outlet! 70%Off Mulberry Bags, Mulberry Sale, Mulberry Purses, Mulberry Alexa, Mulberry Bayswater,Top Quality Free Shipping

Posted by: zzz f | December 22, 2011 7:02 PM

The Hermes Birkin bag is said to be named after the British singer and actress Jane Birkin. It's said that Birkin handbag made the Hermes Birkin 30 , which was designed based on her ideas, especially for her. Jane Birkin had a chance meeting with the Hermes kelly in the early eighties. And through that fateful meeting, the now world-class Hermes handbag was originated. The very first prototype was sent directly to Jane Hermes lindy bag, and the rest is vintage Hermes scarf.

Posted by: Isabella H | December 22, 2011 4:03 AM

There are many 3-in-1 Cheap North Face jackets for sale. You also can find 4-in-1 Discount North Face jackets at our Cheap North Face Jackets outlet.

Posted by: Louis Vuitton Outlet L | December 20, 2011 7:19 PM

One classic type of Moncler Women is the windbreakers. These type of men's coats are wearable for all types of seasons. Moncler Winter Jacketst is made of fabric that could stand through time and it belongs to the category of light men's Moncler Boots. During winter season, these type of Moncler Coats Women could protect you from the chilling wind outside and at the same time warmth your body. And Moncler Jackets Men could also be wear during winter since it is made of lightweight materials which is warm for you to bear Moncler Coats Women.

Posted by: patrick2009 l | December 18, 2011 8:56 PM

The best men's Cheap Moncler coats are fashionable, affordable and keep you warm. Make sure you shop around when looking for your Moncler Vest Sale and you will find one that fits the Moncler Jackets UK. I have owned several throughout the years and have been pleased with every Moncler Mens Jackets purchase decision I have made. With an ever increasing number of designers Moncler Womens Jackets entering the market it is easier and easier to find a great pea coat for Moncler Coats Online.

Posted by: patrick2009 l | December 18, 2011 8:54 PM

Low Price Uggs On Sale, quality guarantee fashion Uggs Sale, safe shippment uggs on sale. Welcome to buy to have a warm winter and be fashion in winter. UGGs Outlet, UGGs On Sale, popular as well as good quality UGG Sale Online. Cheap ugg boots sale here,we promise you can get ugg boots at the lowest price,be quick! UGGs will company you all the winter. To keep warm is also important for men and kids. UGGs add warm to your feet and your heart.

Posted by: zzz f | December 5, 2011 11:52 PM

To buy these north face jackets, is purely coincidental, if not because of north face jackets on sale cheaper plans, I probably will not even look at it a look. Since arriving in the United States, did not dare to take on the north face jackets outlet particular, looking at the streets of whites, blacks, Asians, staffing a TNF, I was ready to completely abandon the discount north face jackets . Yesterday went to New York state's largest shopping market to buy a large, inexplicable TNF into the north face store, suddenly want to wear all day long up New Balance 808 has been appalling, so decided to go to have a see north face jackets sale , a pair of original price to 75 dollars Buildering U.S. $ 51.95, also resort to the fold, the Mens Denali Hoodie Jacket on the shoe rack on it is the most ugly, like a caterpillar oge. But I know that the soles of the feel good, and will be very comfortable.

Posted by: bertha l | December 5, 2011 5:51 PM

With a chic and unique design, New Moncler Down Jackets are also a viable option for you gentlemen. You can pair them with Moncler Mens Coats, a coloured scarf and a pair of moccasins that are terrific for a movie night. Moncler Women Jackets have that fluffy feel which transforms them in a highly comfortable Moncler Mens Jackets item. One Moncler Online Store cannot ignore their miraculous property of preserving the heat and bestowing upon the body the type of Discount Moncler Mens that is so indispensable in the

Posted by: feg g | November 25, 2011 11:18 PM

abercrombie and fitch is truly a concept that numerous ladies take time for connect with this event in vogue attire.abercrombie jacket And in addition, to support the cause of they web designers give in-vogue number of the exact abercrombie fitch fashionable adorn yourself with and your Abercrombie and Fitch jackets depending on the specific requires of those. Therefore, should you wish to place a appropriate taste story yourself really don't have a long way in comparison to what pondering the emblem abercrombie sweaters. It is worthwhile for you to putting on abercrombie jeans.

Posted by: felicity1314 f | October 27, 2011 3:01 AM

It's 007 dvd not james bond dvd destroying 24 dvd any 30 rock dvd kind alias dvd to uncover ally mcbeal dvd that big love dvd those bones dvd trusts brothers and sisters dvd confirm boston legal dvd to some charmed dvd extent cold case dvd magnified, chuck dvd and from criminal minds dvd there on, curb your enthusiasm dvd the desperate housewives dvd present disney 100 years of magic dvd becomes dexter dvd less dollhouse dvd "Kill deadwood dvd Bill" doctor who dvd (though eli stone dvd there entourage dvd are family guy dvd adequate frasier dvd put to friends dvd death ghost whisperer dvd shots to gilmore girls dvd gratify gossip girl dvd achievement junkies) and more "Lost": Love triangles.

Posted by: ASDA A | October 5, 2011 10:08 PM

Lee Barney

Lee Barney served as editor of Money Management Executive from 2002 to 2010. Previously, at United Media’s Wall Street & Technology magazine and Risk/Waters Information Services, she covered financial IT. For, she wrote the daily “Meet the Street” column covering a broad spectrum of market-moving events. Lee began her career as a reporter in Tokyo with The Japan Times and was executive editor of Spotlight magazine.