MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, April 16, 1999 Janus Twenty To Close Doors Janus Capital Corp., the 12th-biggest U.S. mutual fund company, will close its top-performing Janus Twenty Fund to new investors after assets managed have quadrupled to $25.9 billion in the last year and a half. Denver-based Janus, a unit of Kansas City Southern Industries Inc., said the fund was closed "as a proactive move to protect its ability to deliver superior performance." The fund, managed by Scott Schoelzel, will stop accepting money from new investors beginning Monday, April 19, the company said. The fund will continue to accept cash from existing shareholders and will also continue to accept investments from participant-directed defined contribution plans as well as discretionary investment advisers currently investing in Janus Twenty Fund through accounts at a financial intermediary. Jim Craig, Janus' chief investment officer, said the decision to close Janus Twenty Fund was made in the interest of Janus' current investors. "Everything we do at Janus is about our shareholders, which means we begin and end with a tremendous focus on delivering performance across each and every one of our funds. Closing Janus Twenty is simply another indication of our commitment to shareholders," said Craig. Janus Twenty joins several other popular funds such as Fidelity Magellan, Putnam New Opportunities, Vanguard Primecap and Sequoia Fund that have closed their doors to new investors. Printed from: MFWire.com/story.asp?s=24773 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |