Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Janus Says Goodbye to $5 bn Not Rated 4.0 Email Routing List Email & Route  Print Print
Wednesday, August 18, 2004

Janus Says Goodbye to $5 bn

by: Caitlin  Pickall

ING US Financial Services is pulling $5 billion out of Janus funds. Janus revealed last month that an unnamed client was planning on making the large redemption but did not reveal the client's name at that time.

ING's redemption affects several Janus funds, but it will have a particularly large impact on the Aspen Balanced Portfolio, Aspen Flexible Income Portfolio, Aspen Mid Cap Growth Portfolio and Aspen Worldwide Growth Portfolio.

ING is dropping the Aspen funds from its variable annuities and defined contribution retirement plans.

As of July 31, Janus had approximately $129 billion in assets under management. The four hardest-hit Aspen funds had approximately $9 billion in assets. ING's redemption then represents more than 50 percent of the Aspen assets and approximately 3.9 percent of total assets.

Most likely, ING will take the redemption largely in kind (in securities rather than cash). That will decrease the amount of upset the redemption causes in the Janus funds. And shareholders, hopefully, won't feel any pain. A Janus spokesperson reportedly said that additional expenses caused by the redemption would not be passed on to other fund shareholders.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

4.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use