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BUSINESS
August 1, 2006 | From Bloomberg News
The Securities and Exchange Commission still is tying up loose ends from the mutual fund trading scandal. The agency Monday alleged that three former executives at Janus Capital Group Inc. had helped some clients make abusive fund trades. Warren Lammert, who ran the Janus Mercury Fund, former Executive Vice President Lars Soderberg and former sales director Lance Newcomb violated federal laws by "allowing or facilitating" improper trading earlier this decade, the SEC said in a complaint.
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BUSINESS
February 16, 2000 | Bloomberg News
Palo Alto-based Garage.com Inc., which matches tech start-ups with potential venture capital investors online, filed Tuesday with the SEC for a $68.4-million initial stock sale. . . . Janus Capital Corp., the hottest U.S. mutual fund group, said Tuesday it raised its stake in Apple Computer (AAPL) to 6.1% of the firm's stock as of the end of last year. Janus owned about 3.6% of Apple's shares as of Sept. 30. The stock has tripled in the last 12 months. On Tuesday it climbed $3.
BUSINESS
July 28, 2006 | From Bloomberg News and Reuters
Mutual fund giants Franklin Resources Inc., T. Rowe Price Group Inc. and Amvescap all beat analysts' estimates in reporting second-quarter earnings Thursday. But Janus Capital Group Inc., which has struggled since its growth-investing style went out of favor after the 2000-02 bear market, missed profit estimates for the quarter. Franklin, the San Mateo, Calif.-based manager of the Franklin and Templeton funds, said net income in the quarter ended June 30 jumped 42% from a year earlier, to $371.
BUSINESS
April 21, 2001 | Bloomberg News
Janus Capital Corp., which has had more than $2 billion of investor withdrawals from its retail funds this year, cut 546 jobs in its operations unit, its second round of staff reductions since February. Janus, last year's best-selling mutual fund firm, said it is closing its 3-year-old Austin, Texas, telephone-call center and reducing staff in Denver. The cuts amount to 25% of the Denver-based firm's work force and follow the elimination of 468 positions in February.
BUSINESS
January 27, 2001 | Josh Friedman
Stilwell Financial Inc. said Friday it will buy 600,000 shares of Janus Capital Corp. from Thomas H. Bailey, founder of the mutual fund giant. The deal, for undisclosed terms, will raise Stilwell's stake in Denver-based Janus to 88.7% and cut Bailey's stake approximately in half. Bailey, who founded Janus in 1969, called the transaction part of a "long-term financial plan." Stilwell Chief Executive Landon H.
BUSINESS
August 13, 1997 | Bloomberg News
Janus Capital Corp. of Denver said Thomas Marsico, manager of the $5.8-billion Janus Twenty Fund and the $1.7-billion Janus Growth & Income Fund, has left the firm. Janus, one of America's largest mutual fund groups, said in a statement that Marsico, 42, left because of "philosophical differences" and that his departure was voluntary and by mutual agreement. It did not say what Marsico, who had worked for the firm since 1986, plans to do next. Marsico could not be reached for comment.
BUSINESS
June 5, 1999 | From Times Staff and Wire Reports
Kansas City Southern Industries Inc. said Friday that the long-awaited spinoff of its money management unit, which includes Janus Capital Corp., America's fastest-growing mutual fund company, is scheduled for this year's fourth quarter. The spinoff of Janus was supposed to occur last year, but the transaction was delayed when the Internal Revenue Service raised concerns. The Kansas City, Mo.-based company, which also operates a 10,000-mile railroad network that links the U.S.
BUSINESS
September 14, 2000 | From Bloomberg News
Janus Capital Corp., the top-selling U.S. mutual fund company, said Wednesday that it closed its $50-billion Janus Fund to new investors. But the firm also said it will launch a new fund, Janus 2, pending Securities and Exchange Commission approval. The closing of Janus Fund marks the fifth time this year Janus has closed a fund to new investors. Janus has opened two new funds this year, Janus Strategic Value Fund and Janus Orion Fund.
BUSINESS
April 17, 1999 | From Times Staff and Wire Reports
Janus Capital Corp. will close its top-performing Janus Twenty Fund--the most identifiable mutual fund of the narrow, late-1990s bull market--to new investors, after seeing assets quadruple to $25.9 billion since late 1997. Janus Twenty, managed by Scott Schoelzel, will stop accepting money from new investors beginning Monday, the company said Friday. The fund, which makes investments in 20 to 30 stocks, will continue to accept cash from existing shareholders.
BUSINESS
January 25, 2006 | From Bloomberg News
Janus Capital Group Inc. on Tuesday named David Corkins, 39, to manage its $11.2-billion flagship Janus Fund, replacing Blaine Rollins, who has lagged behind rivals in five of the six years he has been in charge. Janus Fund earned 12.8% a year in the three years ended Dec. 31, compared with 13.9% for the average large-capitalization growth-stock fund, according to Morningstar Inc. In the same period, the $4.
BUSINESS
October 27, 2005 | From Associated Press
Janus Capital Group Inc. said Wednesday that its third-quarter earnings declined 33%, but that it was the first time since the mutual funds manager was targeted by an improper trading investigation that more money was being added to the funds than was being withdrawn. Janus shares rose $1.61, or 11%, to $16.78. Chief Executive Steve Scheid also announced the promotion of Chief Investment Officer Gary Black to replace him, effective in January, saying it would be a natural transition.
BUSINESS
December 29, 2004 | From Associated Press
Janus Capital Group plans to offer two new mutual funds in February as it tries to lure back investors who have pulled billions out of a company hit by scandal and lackluster performance. The company said in letters filed this month with regulators that it planned to open the Janus Explorer and Research funds, pending regulatory approval. They would be the first new investment products offered by Janus since it opened the Global Opportunities fund in mid-2001.
BUSINESS
November 16, 2004 | From Reuters
Janus Capital Group Inc. said Monday it was adding analysts and would launch three funds next year as it strives to restore its image as a premier "growth" stock investor. The company will launch the Janus Research Fund in February, which will focus on its analysts' recommendations. It will also start a small-to-mid-capitalization growth fund and a mathematically driven large-cap fund, said Gary Black, the new chief investment officer at Denver-based Janus.
BUSINESS
August 19, 2004 | From Bloomberg News
The Securities and Exchange Commission on Wednesday formally approved Janus Capital Group Inc.'s $100-million settlement over mutual fund trading allegations. Janus, a Denver-based mutual fund company, agreed in April to pay the money to settle claims by New York and Colorado regulators that Janus let favored clients engage in improper trading that hurt other investors.
BUSINESS
July 30, 2004 | From Times Staff and Wire Reports
Janus Capital Group Inc. said one of its clients plans to pull about $5 billion from the firm's mutual funds by the end of the year, a sum that represents 3.7% of Janus' assets under management. Denver-based Janus is one of a number of fund giants that have suffered blows to their images since September because of allegations that they allowed favored clients to engage in abusive trading of fund shares.
BUSINESS
November 17, 1999 | Bloomberg News
Janus Capital Corp. spent almost 30 years betting on fast-growing companies. Now it wants to invest in cheap ones too. Denver-based Janus, whose focus on fast-growing technology and media companies has made it one of the top-selling mutual fund companies, said it's adding its first fund that will focus on supposedly undervalued companies. The unit of railroad operator Kansas City Southern Industries Inc., which aims to roll out its Janus Strategic Value Fund on Jan.
BUSINESS
February 20, 2001 | JOSH FRIEDMAN, TIMES STAFF WRITER
Janus, the Denver-based mutual fund giant, takes its name from the Roman patron god of beginnings and endings. The firm's shareholders lately are hoping that the company's glory days haven't come to an end. After a deep slump in 2000 and continued losses in most Janus stock funds this year, there is widespread debate over whether the firm has merely fallen temporarily out of sync with a fickle market or perhaps gotten too big--and stayed too narrowly focused in its investing--for its own good.
BUSINESS
June 25, 2004 | From Bloomberg News and Times Staff Reports
Putnam Investments and Janus Capital Group Inc. suffered combined customer withdrawals of $3.85 billion in May, marking three years of outflows for two of the biggest U.S. mutual fund companies, Financial Research Corp. said Thursday. Investors pulled a net $2.33 billion from stock and bond funds managed by Boston-based Putnam, a unit of Marsh & McLennan Cos., said Financial Research, an industry research firm. Denver-based Janus had $1.52 billion in net redemptions.
BUSINESS
May 18, 2004 | From Reuters
Research company Morningstar Inc. said Monday that investors could once again consider investing in Janus Capital Group Inc., one of the first mutual fund companies to be swept up in a trading scandal. Morningstar, which is best known for its ratings of mutual funds, in September recommended that investors consider selling their Janus funds after New York Atty. Gen. Eliot Spitzer accused Janus of allowing improper trading.
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