Perkins Investment Management, a Chicago-based value manager 80 percent owned by Janus Capital Group, reopened its Perkins Small Cap Value Fund on Friday, citing investment opportunities and lower fund assets brought about by the market slump. The fund, which shuttered its doors to new investors in February 2000, had $696.8 million of assets at the end of last month.

"The portfolio management team is finding what they believe are compelling investment opportunities," said Jeff Kautz, Perkins' chief investment officer. "This combined with lower assets in the fund, as a result of the down turn in the market, drove our decision to re-open the fund to new investors."

Meanwhile, Perkins tapped Justin Tugman, an analyst with the company, as a co-portfolio manager of the fund and related strategies.

Company Press Release

DENVER--(BUSINESS WIRE)--Perkins Investment Management LLC (Perkins), a subsidiary of Janus Capital Group, announced that Perkins Small Cap Value Fund (JSCVX) will reopen to new investors effective today. Perkins Small Cap Value Fund has been closed to new investors since February of 2000.

"After careful consideration we've decided to reopen Perkins Small Cap Value Fund," said Jeff Kautz, Chief Investment Officer of Perkins. "The portfolio management team is finding what they believe are compelling investment opportunities. This combined with lower assets in the fund, as a result of the down turn in the market, drove our decision to re-open the fund to new investors," said Kautz.

In a related move, Perkins appointed Justin Tugman, an analyst with the firm, as a co-portfolio manager of Perkins Small Cap Value Fund and related strategies. Tugman, who has more than eight years of professional money management experience, joins long-time co-portfolio managers Bob Perkins and Todd Perkins in managing the small cap value products offered by Perkins.

"Justin's promotion is well deserved. He has proven himself a leader at the firm and has been a significant asset to the investment team,� said Kautz. "I believe Justin's investment acumen and drive to deliver for shareholders and clients will further strengthen the team."

Tugman joined Perkins in 2004 as an equity research analyst focusing on the energy and utilities sectors. During his tenure, Justin has worked closely with Bob Perkins and Todd Perkins. Prior to joining Perkins, Justin was an energy sector analyst at Simmons & Company International for four years. He holds a bachelor's degree in finance from the University of Wyoming, and a master�s in business administration with a concentration in finance from Tulane University and holds the Chartered Financial Analyst designation.

About Perkins

Perkins Investment Management LLC (Perkins) is an asset management firm with a 29-year history of value investing, managing approximately $9 billion as of December 31, 2008. With its industry experience, intensive research and careful consideration for risk, Perkins has established a reputation as a respected value manager. Perkins has been the subadviser to Perkins Small Cap Value Fund since its inception in 1987 and Perkins Mid Cap Value Fund since its inception in 1998.

About Janus Capital Group Inc.

Founded in 1969, Denver-based Janus Capital Group Inc. (�Janus�) is a recognized leader of growth, risk-managed and value investment strategies. Our commitment to deliver for investors is rooted in our research-intensive approach and relentless passion to gain a competitive edge. At the end of December 2008, Janus managed $123.5 billion in assets for more than four million shareholders, clients and institutions around the globe. Outside the U.S., Janus has offices in London, Tokyo, Hong Kong and Singapore. Janus Capital Group consists of Janus Capital Management LLC, and indirect subsidiaries INTECH Investment Management LLC (INTECH), formerly known as Enhanced Investment Technologies LLC, and Perkins Investment Management LLC (Perkins), formerly known as Perkins, Wolf, McDonnell and Company LLC.

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