At the start of this year, Janus
rolled out a new system for compensating its executives, vice presidents, portfolio managers and analysts.
The investment professionals agreed to new guidelines for owning Janus equity and mutual funds that require "a certain level of compensation be held in JNS stock and Janus mutual fund shares," stated officials in a SEC
Twenty-one of Janus' Denver-based portfolio managers agreed to a new performance-based compensation plan based on one-year and three-year performance results, with more emphasis on three-year results. "A significant portion of the portfolio managersí variable compensation will be earned and paid in a combination of Janus equity grants and Janus mutual funds," stated officials in the filing.
For agreeing to the new plan before the managers' old contract was up, Janus paid out the managers $15 million in vested Janus stock, an average of approximately $714,000 per manager.
The new executive compensation plan "sends a strong message to our fundholders and clients that our investment team is stable, properly aligned and squarely focused on what matters most, delivering consistently strong fund performance," said Gary Black, president and chief investment officer.
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