April 14, 2005 — Janus Capital Group (JNS) said Karen Reidy will relinquish her portfolio management responsibilities on Janus Balanced Fund (JABAX) and Janus Core Equity Fund (JAEIX), effective May 1.
Marc Pinto and Gibson Smith were named co-managers of the Balanced Fund, while Minyoung Sohn will manage the Core Equity Fund.
The changes will also affect the corresponding Janus Adviser Series, Janus Aspen Series and Institutional portfolios.
Pinto, who has 20 years investment experience, currently manages equity investments for Janus’ institutional clients.
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Reidy, who has been with Janus for the past ten years, started managing each of the funds in January 2000. In a letter to shareholders, Reidy wrote that she is exploring an opportunity to work in a “strategic capacity” with Janus’ chief executive officer, Steve Scheid.
Smith, head of Janus’ $6 billion fixed-income department, also manages Janus Short Term Bond Fund (JASBX) and Janus High Yield Fund (JAHYX). Smith joined Janus in 2001.
Sohn, who has been with the firm for seven years, also manages the Janus Growth and Income Fund (JAGIX).