today announced that it would be closing three of its mutual funds to new investments, starting tomorrow. The three funds include the $42 billion Janus Worldwide Fund
one of the company's biggest funds, managed by Helen Young Hayes
and Laurence Chang
as well as the $8 billion Janus Olympus Fund
, managed by Claire Young
, and the $3 billion Janus Global Life Sciences Fund
, managed by Tom Malley
"By proactively closing these funds now, we are controlling the flow of
cash into them," said Jim Craig
, Janus' chief investment officer.
"This is a step that Janus has taken before ..."
Janus closed its Twenty Fund
and Global Technology Fund
in the last year and is talking about closing its Enterprise Fund
as early as midyear 2000.
The Denver company, still fighting a battle with parent Kansas City Southern
for independence from the planned Stilwell spin-off, currently has about $290 billion in 22 Janus retail funds, 13 institutional funds in its Janus Aspen
Series, and 10 offshore funds through Janus World Funds
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