DENVER - Janus Capital Group Inc. launched two new mutual funds Friday, hoping to bring back investors who have pulled billions out of a company hit by scandal and lackluster performance.
The Denver-based company said the Janus Triton Fund and Janus Research Fund will help leverage the firm's growing team of research analysts and the nearly 1,000 stocks they cover.
"Rigorous research is Janus' hallmark," Gary Black, Janus president and chief investment officer, said in a statement. "We go to great lengths to uncover promising companies others may have missed and I'm confident these two funds will capitalize on our expertise."
The Janus Triton Fund focuses on "dynamic companies with small and medium market capitalizations," the company said. It will be managed by Ron Sachs, who will continue to manage the Janus Orion Fund.
The Janus Research Fund is a core product that will invest in analysts' most compelling areas, regardless of their size, industry or location. Jim Goff, director of research, will oversee the fund and day-to-day portfolio management.
The company has been working to rebuild investor trust. Janus gained prominence for its funds' superior performance during the market boom in the late 1990s, but many of its funds have performed poorly in the past several years.
Janus also 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. The company acknowledged 10 market-timing arrangements, all of which have been canceled, and some top executives resigned.
Assets under Janus' management have dropped from about $320 billion in March 2000 to $132.7 billion earlier this month.
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