With the flagship Janus Fund down 38% from its March 2000 high, Janus Capital is hurting.
Janus Capital Management, LLC managed a mutual fund called Janus Investment Fund, a third, separate, legal entity.
FORBES: Supreme Court to Defrauded Investors: "Sorry, Charlie"
In this case that was Janus Investment Fund, the distributor of Janus mutual funds, even though the offending words were actually written by the much more profitable advisory arms of the company.
FORBES: Supreme Court Rejects Broader Liability In Janus Case
That's true, in the sense that someone getting the Janus Twenty fund via Schwab bears the same 0.83% annual expense ratio as someone buying directly from Janus.
It is not, partly because it's the stepsister of the embattled Janus Capital mutual fund operation under the shared roof of Stilwell Financial (nyse: SV - news - people).
In rejecting broader liability the court majority also rejected the position of lawyers for the federal government, who argued that the three units of mutual fund manager Janus Capital were so closely intertwined that they all should be subject to suit over alleged misstatements about mutual fund trading.
FORBES: Supreme Court Rejects Broader Liability In Janus Case
The managers at Janus, the hot fund family of the moment, are locked in battle with corporate parent Kansas City Southern.
He refused and then gave traders at SAC Capital, Citadel Asset Management, and mutual-fund firms Janus Capital Group, Wellington Management Co. and MFS Investment Management a heads up about the investigation.
Janus Capital, a mutual fund money manager suffering from profound performance woes claims they use only 5% street research.
FORBES: Money Manager Use of Tainted Wall Street Research (Oct 1, 2002 )
And earlier this year, it upheld the corporate firewall between Janus Capital Group and a mutual fund it advised.
In 1999 the hottest fund family on earth was Janus because, in the recent past, its high-momentum funds had done so well.
Ultra's ability to hold up better than Janus has a lot to do with the two fund houses' differing styles.
Janus will probably extend the concept to mutual-fund advisors.
FORBES: Next Supreme Court Term Could Be Hard On Plaintiff Lawyers
Janus is still living with the reputation of having been mutual fund company 12 years ago that focused on growth stocks such as internet and telecom stocks.
FORBES: Overlooked Financial Stocks And European Winners Could Be Game Changers
In the past, Janus Capital Group has added its entire bill for ICI dues to the expenses fund investors' pay, and Fidelity Investments has added an undisclosed portion.
Latest twist in the ongoing soap opera: Janus founder Thomas Bailey announced in mid-June he's stepping down as the fund group's leader.
应用推荐