Dec. 30, 2004 — After suffering steep outflows related to poor performance and a market-timing scandal in 2004, Janus is now planning to offer two new mutual funds to broaden its lineup, according to papers filed with the Securities and Exchange Commission this month.
Pending regulatory approval, Janus Explorer Fund will focus on smaller growth companies, while Janus Research Fund will provide investors direct access to the top stocks picks of Janus’s analysts, according to the filing.
Janus’s funds won accolades in the late 1990s with their growth-oriented approach that favored tech and health care issues, but suffered badly in the market meltdown starting in 2000 when the tech bubble burst. The company has steadily worked to rebuild investor confidence.
In August 2004, Janus agreed to settle market-timing charges, reaching final settlements with federal and state regulators related to improper trading in its mutual funds. Under the settlement, Janus agreed to cut fund fees by $125 million over five years and pay $101 million in penalties to settle charges that it let favored clients make frequent trades that hurt other investors.
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