Janus Closes Janus Fund to New Investors, Plans Janus Fund 2
September 18, 2000
Janus Funds of Denver last week closed its $50 billion Janus Fund to new investors, according to the company. The company also filed a registration statement with the SEC last week for a new fund, the Janus Fund 2, according to Shelly Grice, spokesperson for Janus.
The closing of the Janus Fund will affect new investors only. Existing shareholders can continue to buy shares and reinvest any dividends or capital gains distributions, according to the company. The fund will continue to accept investments from defined contribution plans and discretionary investment advisors who currently invest in the fund through financial intermediaries.
"I made the decision to proactively close Janus Fund at this time so that the portfolio team and I can continue to selectively invest in the best companies in the world," said Blaine Rollins, the Janus Fund's manager, in a statement.
Janus Fund 2 will be a diversified long-term growth fund investing primarily in common stocks. It will be managed by John Schreiber, an assistant portfolio manager of Janus Fund. The fund will be introduced on Dec. 29, pending regulatory review, according to Grice. Minimum initial investment for the fund will be $2500 for regular taxable accounts and $500 for retirement accounts and accounts for minors, Grice said.