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Don't Cry for Janus

Fund firm still on pace for record cash-flow year.


The money flowing into Janus Capital, which has been the cash-sucking monster of the mutual-fund industry over the last three years, certainly has slowed in recent months. It has not yet slowed enough, however, to knock the Denver-based fund family off a record asset-gathering pace for the year.

Last month, Janus' equity funds saw net outflows ($122.5 million) for the first time since 1997. Fund flows into Janus have fallen from a gusher--$21 billion in January and February alone--to a trickle, in part because the firm has closed five of its most popular funds to new investors this year. The firm's reliance on quick-growing, premium-priced technology stocks, which generally have been flat to down so far this year, also has hurt the performance of its funds and diminished their allure to performance-chasers.

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