Janus Capital is preparing to launch a number of new funds as part of an effort to restore its image as the premiere growth stock fund manager reports the Los Angeles Times
. The Denver fund firm is also adding to its analysts ranks as part of the effort.
In February Janus will launch the Janus Research Fund, a small-to-mid-cap fund and a quant fund, according to statements made by CIO Gary Black at a conference in New York City. The new funds come as Janus attempts to rebuild its image following it allowed Canary Capital Partners to market time its funds leading to the dismissals of its top management. That scandal hit the company as it was already struggling with poor investment returns in the bear market and the resignation of then CIO Helen Young Hayes.
"What I want Janus to be is that we're dominant in growth investing, so when the growth cycle turns, we're there to exploit that opportunity," Black said at the Merrill Lynch Banking and Financial Services Investor Conference in New York.
Black added that he believes growth stocks will rebound: "As the economic recovery takes hold, we think performance will get better," he said.
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