Janus Fund Manager Hayes to Retire

The Overseas fund returned 86.1% in 1999, but has been in the red since. The Worldwide fund returned an average annualized 7.7% for the ten years ended last month, while its international stock fund peers were up 4.9%. However, Worldwide lost 27% on average for the three years ended in March, compared to a loss of 19.3% by its global fund peers.

Hayes, who came to the Denver-based mutual fund company from Fred Alger Management, will stay on at the fund complex through the end of the year, after which she “plans to retire from the asset management business,” the company said.

Hayes is the second well-known fund manager to leave Janus this year. Warren Lammert stepped down last month from the Janus Mercury Fund (JAMRX), which he had Piloted since 1993.

Mark Whitson, chief executive officer of Janus Capital Group (JNS), the fund company’s parent, will initiate a search for a new chief investment officer, the position Hayes has held since February 2002.

He will be joined by former Janus portfolio manager and chief investment officer Jim Craig. Also spearheading the search will be Andrew Cox, a former portfolio manager and vice president of investments at the Founders mutual fund family. Craig and Cox are also Janus Capital directors.