In its 38 year history, Janus Capital has
grown to be a major player in the asset management market with
about $110.9 billion in assets under management as of April
2009. The firm provides investment advisory services through
two subsidiaries, Janus Capital Management (JCM) and Enhanced
Investment Technologies (INTECH). Janus Capital Management is
wholly owned and has become one of the largest equity managers in
the U.S. In addition to growth, core and international equity
funds, JCM offers balanced, specialty fixed income and money market
INTECH's investment process is based on a specific mathematical
theory that attempts to capitalize on the random nature of stock
price movements, with a goal of outperforming a passive index while
controlling risk and trading costs. INTECH, headquartered in
Palm Beach Gardens, Fla., manages assets for large institutions and
endowments. Janus also owns 30 percent of Perkins, Wolf,
McDonnell and Company, a Chicago-based asset management firm with
over 22 years of history of managing small- and mid-cap value
mutual funds and separate accounts.
Denver-based Janus Capital was founded in 1969, and its first fund
opened in 1970 with $500,000 in assets and 30 investors.
Founder Tom Bailey named his firm after the Roman god of new
beginnings, adopting the traditional image of a face looking both
forward and backward. Bailey felt this was the perfect symbol to
describe his business philosophy: that the best way to judge a
company's future potential was by understanding its past.
This approach is still in action at Janus, where research is a
major part of investment management. Janus rose to national
prominence in the 1990s, thanks to its red-hot technology
funds. In the post-tech boom era, however, the firm has
worked hard to build a new, more stable identity for itself.
It's also had to recover from big losses in the economic slumps of
2000-2002, and it suffered from bad bets on now-infamous companies
like Enron and Tyco. Then, in 2004, it had to pay $100
million in SEC fines stemming from allegations of illegal
market-timing operations, a scandal that led to the departure of
CEO Mark Whiston.