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March 17, 2009 at 08:00 PM
Citing “changing market conditions and investor migration toward advice-driven channels,” Denver-based Janus Capital Group said March 16 that it will merge its advisor-sold mutual funds with its retail funds, creating one no-load mutual fund platform that the company said will provide investors with a broader range of investment strategies. In addition, said Robin Beery, president of Janus Funds and executive VP of Janus Capital, the merger “creates opportunities for reduced fund expenses over time.”
The merger is expected to occur on or about July 6, 2009, and will take place between the Janus Adviser Series (JAD) trust and the Janus Investment Fund (JIF) trust, which was set up to serve self-directed investors. After the merger, the direct investment platform will be closed to new investors but will continue to be available to current direct investors and members of their immediate families and households.
