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Janus Worldwide to Merge Into Janus Global Research

This former titan of the global tech bubble is disappearing.

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Janus announced today that the board of trustees that oversees its funds has approved the merger of  Janus Worldwide (JAWWX) into the analyst-run  Janus Global Research (JARFX). Pending shareholder approval, the merger is expected to take place in January 2013. From a technical standpoint, Global Research is merging into Worldwide, but the combined fund will be named and managed as Global Research. Because Global Research has a smaller shareholder base, this arrangement is expected to keep proxy solicitation costs lower and make achieving a quorum of shareholders more likely.

The once-vaunted Janus Worldwide has seen a remarkable reversal of fortune. It was once one of the most well-known growth funds around, and with good reason. From its May 1991 inception to the peak of the tech/media/telecom mania in March 2000, it nearly tripled the cumulative return of the typical world-stock fund. The fund's asset base peaked at close to $45 billion then--a close second at Janus to flagship  Janus Fund (JANSX), when the firm was the hottest shop in the fund industry.

Greg Carlson does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.