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Products January 9, 2001
Janus Closes Flagship, Files for Janus 2
September 13, 2000 (PLANSPONSOR.com) - The $50
billion flagship Janus Fund has closed to new investors,
effective immediately.
Reported by Nevin E. Adams
The Fund will continue to accept investments from participant-directed defined contribution plans and investment advisers currently investing in Janus Fund through accounts at financial intermediaries.
The closing will allow it to continue to “selectively invest” according to fund manager Blaine Rollins.
Janus Funds have continued to attract investor funds this year, despite slipping performance results.
The Denver-based fund complex has been pulling in as much as $10 billion/month from investors, making it harder to find good investments for all that cash.
Earlier this year, Janus closed its Global Life Sciences, Olympus and Worldwide Funds for similar reasons.
Janus also filed a registration statement with the SEC today for a new fund, Janus 2, a diversified fund that will “seek long-term growth of capital by investing primarily in common stocks”.
John Schreiber, assistant portfolio manager of Janus Fund, will manage the new fund.
Pending regulatory review, Janus 2 will commence operations on December 29, 2000.
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