Janus to Offer Two New Mutual Funds
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Janus Capital Group plans to offer two new mutual funds in February as it tries to lure back investors who have pulled billions out of a company hit by scandal and lackluster performance.
The company said in letters filed this month with regulators that it planned to open the Janus Explorer and Research funds, pending regulatory approval.
They would be the first new investment products offered by Janus since it opened the Global Opportunities fund in mid-2001.
The filing with the Securities and Exchange Commission said the Explorer fund would invest mainly in companies with a market capitalization of less than $10 billion. The Research fund would invest in a broad range of industries based on recommendations from Janus stock analysts, the document said.
Janus has settled with state and federal regulators after being accused of allowing favored investors to rapidly trade funds at the expense of long-term investors. Assets under Janus’ management have dropped from about $320 billion in March 2000 to $131.3 billion as of Oct. 31, the latest figure available from the company.
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