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Rating:Spotlight Shifts to Funds Holding Lehman Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, September 12, 2008

Spotlight Shifts to Funds Holding Lehman

by: Armie Margaret Lee

The spotlight has turned from which funds loaded up on Fannie Mae and Freddie Mac stock (see The MFWire, September 8, 2008), to which funds stocked up on Lehman Brothers. Janus' hometown paper, The Rocky Mountain News, reports that Janus skipper Ron Sachs bought close to 10 million shares of Lehman stock in the second quarter. Sachs runs the Janus Twenty and Janus Adviser Forty funds, which together held more than 15 million Lehman shares at the end of June. At the time, Janus Twenty was the second largest mutual fund holder of Lehman stock.

It was not known how much Lehman shares the funds currently owns.

Sachs took the helm of Janus Twenty after Scott Schoelzel's departure at the end of last year. Earlier this year, Sachs pulled out of Bear Stearns, sparing investors from additional losses. 

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