Just a year or so after we slammed Janus in 2000 as being a fund family to avoid, investors started to withdraw money from the formerly hot fund family. Those redemptions accelerated as Janus' Go-Go growth funds tanked and the run for the exits really kicked in to overdrive when it became known that Janus was tainted in the fund timing scandal.
Apparently Janus just had their first quarter with net new money into Janus-managed funds in six years. While it’s no longer the $10 billion-a-month and up Janus of yesteryear, at least they are back in the game:
Janus reported on Thursday its core funds attracted $1.5 billion in long-term net inflows in the second-quarter, the first quarterly net inflows since 2001. It also posted a 57 percent jump in second-quarter profit, beating analysts' expectations.
Janus, which is focused on the 'growth' style of investing, started to see outflows from its funds when the tech bubble burst in 2000-01 and 'growth' style went out of favor.
The outflows worsened when Janus was caught up in the industry-wide mutual fund trading scandal of 2003-04, leading to a change in management."
These days there are three fund families with around a trillion or so in assets – Fidelity, Vanguard, and American Funds. Fortunately for Janus, strong markets and solid fund performance has carried them back to just under $200 billion. For comparison, Dodge and Cox has almost this much money in just four funds, and Janus had over $300 billion before the fall.
We’ve actually been recommending a few Janus funds in recent years, and list quite a few in our quarterly favorite fund report (free for subscribers of the MAXadvisor Powerfund Portfolios).
Just a year or so after we slammed Janus in 2000 as being a fund family to avoid, investors started to withdraw money from the formerly hot fund family. Those redemptions accelerated as Janus' Go-Go growth funds tanked and the run for the exits really kicked in to overdrive when it became known that Janus was tainted in the fund timing scandal.
Apparently Janus just had their first quarter with net new money into Janus-managed funds in six years. While it’s no longer the $10 billion-a-month and up Janus of yesteryear, at least they are back in the game:
Janus reported on Thursday its core funds attracted $1.5 billion in long-term net inflows in the second-quarter, the first quarterly net inflows since 2001. It also posted a 57 percent jump in second-quarter profit, beating analysts' expectations.
Janus, which is focused on the 'growth' style of investing, started to see outflows from its funds when the tech bubble burst in 2000-01 and 'growth' style went out of favor.
The outflows worsened when Janus was caught up in the industry-wide mutual fund trading scandal of 2003-04, leading to a change in management."
These days there are three fund families with around a trillion or so in assets – Fidelity, Vanguard, and American Funds. Fortunately for Janus, strong markets and solid fund performance has carried them back to just under $200 billion. For comparison, Dodge and Cox has almost this much money in just four funds, and Janus had over $300 billion before the fall.
We’ve actually been recommending a few Janus funds in recent years, and list quite a few in our quarterly favorite fund report (free for subscribers of the MAXadvisor Powerfund Portfolios).
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