Janus Adds Three to Fixed Income Research in Bond Push
Janus Capital Group Inc. (JNS), the Denver-based asset manager struggling with client withdrawals, added three analysts to its fixed-income research team as part of an effort to reduce the firm’s reliance on stock-focused investments.
Craig Klein will serve as global credit analyst, joining Janus from UBS Securities, where he was part of the firm’s special situations group, the company said today in a statement. Jason Brooks, former director of commercial mortgage-backed securities at TIAA-CREF, was appointed global securitized products analyst, and Corinna Lyon, a former member of Janus’s sales and marketing team, was named portfolio information analyst,
“The addition of these professionals further demonstrates Janus’s commitment to offering the depth and personnel necessary to deliver strong risk-adjusted returns and preserve capital for our clients,” Gibson Smith, the firm’s co-chief investment officer, fixed income, said in the statement.
Chief Executive Officer Richard M. Weil, a former executive at bond giant Pacific Investment Management Co., has worked to diversify the firm since he took over in February 2010 by expanding its fixed-income capabilities. Janus’s bond lineup attracted $1.1 billion in deposits in the second quarter, while the rest of the company lost $5.1 billion in client withdrawals, making for the firm’s 12th consecutive quarter of net redemptions.
Assets in bond-only products accounted for $23.8 billion, or 16 percent of Janus’s total assets as of June 30. Janus owns the Janus, Intech and Perkins funds.
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