Despite distractions such as a bulging asset base and a spin-off as part of Stillwell Financial, Janus is sticking to its knitting. Today it launched the Janus Orion Fund. Like its anchor, Janus Twenty, the new fund is a non-diversified, growth fund (normally focusing on 20 to 30 stocks of any size from anywhere around the world). Ron Sachs will manage the fund.

"This fund will have the flexibility to invest in the very best companies throughout the world in a concentrated fashion. It will be a 'stock picker's fund' in the purest sense," said Janus Chief Investment Officer Jim Craig.

Meanwhile Artisan Funds is closing the Artisan Small Cap Value Fund as promised and adding to the fund's management team on July 1. The Milwaukee-based fund company is closing the spigot after assets reached $250 million in assets. Existing Fund shareholders may continue to purchase shares as well as reinvest dividends and capital gains distributions. James C. Kieffer will manage the fund along with Scott C. Satterwhite starting next week. 

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