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Friday, January 27, 2012

Janus and Pimco, Diworsifying?

News summary by MFWire's editors

What would a time-traveling fundster from 1999 make of Janus' [profile] moves into fixed income and Pimco's [profile] moves into equities? Jason Kephart of InvestmentNews ponders the two mutual fund firms' shifts towards becoming one-stop shops.

"These kinds of shifts are often met with healthy skepticism," Jeff Tjornehoj, a Lipper senior research analyst, told InvestmentNews. "Bigger firms have it a bit easier, though, simply because they have so many resources."

"Looking back at our strategic focus from 24 months ago, we made the decision to really focus on diversifying our asset business," Gibson Smith, co-chief investment officer of fixed income at Janus, told the pub. "When people think about Janus, they usually think of the growth equity franchise, but we're seeing more interest in our fixed-income funds."

"It's about providing solutions, not products, and part of the solution is active equities," said Neel Kashkari, head of equities at Pimco, stressing the importance of being a one-stop shop and of hiring top PMs. "We want to go out and cherry-pick the best in the industry."

"Our returns speak for themselves," Smith added.

Sterling Wealth Management Group managing partner Greg Carroll also weighed in for the article. 

Edited by: HFD

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