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.

The company, which as of year-end 2008 had $123.5 billion in AUM, said the JAD funds would be merged into existing JIF funds, which will have some differences in fund names from those currently in place in the JAD trust. In addition, 10 new funds will be created in the JIF trust for JAD funds that have no corresponding JIF strategy.

Existing JAD Fund

Existing JIF Fund

Resulting Fund

Janus Adviser Balanced Fund

Janus Balanced Fund

Janus Balanced Fund

Janus Adviser Contrarian Fund

Janus Contrarian Fund

Janus Contrarian Fund

Janus Adviser Mid Cap Growth Fund

Janus Enterprise Fund

Janus Enterprise Fund

Janus Adviser Flexible Bond Fund

Janus Flexible Bond Fund

Janus Flexible Bond Fund

Janus Adviser Large Cap Growth Fund

Janus Fund

Janus Fund

Janus Adviser Growth and Income Fund

Janus Growth and Income Fund

Janus Growth and Income Fund

Janus Adviser High-Yield Fund

Janus High-Yield Fund

Janus High-Yield Fund

Janus Adviser Orion Fund

Janus Orion Fund

Janus Orion Fund

Janus Adviser International Growth Fund

Janus Overseas Fund

Janus Overseas Fund

Janus Adviser Research Core Fund

Janus Research Core Fund

Janus Research Core Fund

Janus Adviser Small-Mid Growth Fund

Janus Triton Fund

Janus Triton Fund

Janus Adviser Worldwide Fund

Janus Worldwide Fund

Janus Worldwide Fund

Janus Adviser Perkins Small Company Value Fund

Perkins Small Cap Value Fund

Perkins Small Cap Value Fund

Janus Adviser Perkins Mid Cap Value Fund

Perkins Mid Cap Value Fund

Perkins Mid Cap Value Fund

Janus Adviser INTECH Risk-Managed Core Fund

INTECH Risk-Managed Core Fund

INTECH Risk-Managed Core Fund

Janus Adviser INTECH Risk-Managed Growth Fund

None

INTECH Risk-Managed Growth Fund

Janus Adviser INTECH Risk-Managed International Fund

None

INTECH Risk-Managed International Fund

Janus Adviser INTECH Risk-Managed Value Fund

None

INTECH Risk-Managed Value Fund

Janus Adviser Forty Fund

None

Janus Forty Fund

Janus Adviser Global Real Estate Fund

None

Janus Global Real Estate Fund

Janus Adviser International Equity Fund

None

Janus International Equity Fund

Janus Adviser International Forty Fund

None

Janus International Forty Fund

Janus Adviser Long/Short Fund

None

Janus Long/Short Fund

Janus Adviser Modular Portfolio Construction Fund

None

Janus Modular Portfolio Construction Fund

Janus Adviser Perkins Large Cap Value Fund

None

Perkins Large Cap Value Fund