As part of a larger strategy to bring its funds under in-house management, Janus
to shed two of its subadvised funds.
Janus requested the directors of the Janus Focused Value Fund and the Janus International Equity Fund to approve Phoenix Investment Counsel as the funds' new advisor. The fund is currently subadvised by Vontoble Asset Management. Vontoble will continue to subadvise the funds for Phoenix.
"Janus has decided to focus on offering products managed exclusively by Janus or its subsidiaries, rather than by external subadvisors such as Vontobel," stated officials in a release.
"Offering investors a wide range of choices is a priority for Janus, but we’re focused on doing that
through internal growth or a targeted acquisition," said Gary Black, Janus president and chief investment
Janus has "nothing on the horizon" to shed other funds with subadvisors, said spokeswoman Shelley Peterson.
Shareholders are scheduled to vote on the issue on May 17, 2005.
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