Janus says it's just stock-picking, not growth or value
Janus Funds, well known for solid performance in growth, is trying its hand at value, with its Strategic Value Fund to be launched in February. Janus says that its core competency in stock-picking isn't merely limited to growth stocks, it's the research that wins the day, so picking value stocks will be little different.
Also on TheStreet.com, Invesco plans to add load shares to 27 of its funds.
Magellan manager cautious about tech, but increased stake
From The Wall Street Journal
Robert Stansky, the manager of the world's largest mutual fund is voicing his reservations about tech stock's high price and concern about how they'll be affected Y2K. However, he increased his stake in tech stocks by approximately 300 million over the last 6 months, according to his midyear report. Fidelity Magellan's Stansky is beginning to load up on drug stocks like Eli-Lilly and Schering-Plough.
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