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 |
|
Wednesday, August 9, 2000 Will Janus Lose its Vision? Janus has lived by the sword. It has built itself into the number five position in the fund industry by placing selective bets on a limited number of companies selected through diligent analytical work. The strategy has paid off as Janus funds have led the performance charts during recent years. Still, critics claim the strategy leaves Janus vulnerable as many of its funds own the same stocks. Now the architect of that strategy, Jim Craig, is stepping down to manage a family charitable foundation. The 44 year-old Craig, chief investment officer and director of research at the Denver-based fund company, will step down at the end of September. Janus' Executive Investment Committee -- the members are Jim Goff, Warren Lammert, Blaine Rollins, Scott Schoelzel, Helen Young Hayes, and Tom Bailey -- will assume his duties. Janus is stressing that Craig himself put together the committee more than a year ago. Trading in shares of Janus parent company, Stilwell Financial (NYSE: SV), was delayed at the opening of the New York Stock Exchange today as sell orders far outnumbered buy orders. The price of the shares were down nearly 8 percent at Noon. "I have decided that now is the best time for me to redirect my energy toward a dream my wife and I have had for some time. But I leave Janus certain that we've put the right people in place to lead the firm into the future," said Craig in a statement. "From the Executive Investment Committee members, who have been leading Janus' investment effort for over a year, to Blaine Rollins, who is doing an outstanding job managing Janus Fund, today's Janus has tremendous managerial and leadership depth." He added that "I have spent half my life making money for other people to retire and send their kids to college. I'm looking forward to using my skill in making money for this new pursuit." In his new career, Craig will work with his wife who will be the president of The Craig Family Foundation. The mission of the Denver-based foundation will be to significantly impact the lives of those facing disadvantage in the local community, according to Craig. Printed from: MFWire.com/story.asp?s=25848 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |