Can Janus' Core Funds Keep Up With Its Ambition?
The firm is attempting to turn things around at its largest segment.
Known as a growth-investing powerhouse through the 1990s, Janus has endured ups and downs in the 13 years since the tech-media-and-telecom bubble burst in the early 2000s--an event that took the fund family’s superior track record and reputation down with it. To the firm's credit, it has strengthened its research organization and diversified its mutual fund lineup--something that can’t be said of all the growth-equity shops of the 90s.
But change has since been a near constant at Janus for more than a decade, and while evolution can be a good thing, it takes time for fund shops to establish a comfort level with investors as to organizational stability and investment excellence. While the firm has expanded its investment repertoire to include various equity styles, more fixed income, quantitative investing, and a slowly growing liquid-alternatives group, it is still most readily recognized as a growth-equity shop. That some of Janus' larger funds have been suffering over the past several years makes the firm as a whole a tough sell, despite encouraging performance and asset growth in its fixed-income funds.
Greg Carlson does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.