Janus Capital Group Inc. (NYSE: JNS) today introduced Perkins Value Plus Income Fund (JPVAX), the firm’s first jointly managed product that combines the value expertise of Perkins Investment Management and the credit expertise of Janus’ Fixed Income team.
“This fund leverages the strengths of the Perkins team and the Janus Fixed Income team, seeking to deliver stable income while balancing capital appreciation and preservation,” said Dick Weil, CEO of Janus Capital Group. “Our clients are increasingly focused on protecting their purchasing power over the long-term, and we believe this new Perkins Value Plus Income Fund may be an ideal choice to consider.”
Perkins Value Plus Income Fund will strive to provide investors current income with the potential for additional capital appreciation by investing in a combination of equity securities and credit-oriented fixed income securities. The fund will typically invest 50% of its assets in equity securities using the Perkins’ methodology with an additional screen for income and 50% of its assets in credit-oriented fixed income securities, including high-yield and preferred securities. However, the portfolio has the flexibility to adjust this mix in response to changing economic and market conditions. Perkins will be responsible for the day-to-day management of the equity allocation and Janus will be responsible for the day-to-day management of the fixed income allocation.
The fund has an effective date of July 30, 2010. Jeff Kautz and Ted Thome of Perkins will serve as the equity portfolio managers. Janus’ Gibson Smith and Darrell Watters will co-manage the fixed income portfolio (biographies included at end of release). The benchmark for the equity allocation will be Russell 1000 Value, the benchmark for the fixed income allocation will be Barclays Capital U.S. Aggregate Bond and the blended benchmark will be 50% Russell 1000 Value and 50% Barclays Capital U.S. Aggregate Bond.
For more information on Perkins Value Plus Fixed Income Fund, please contact your financial advisor or visit www.janus.com/info.
Management team biographies
Jeffrey Kautz, CFA
Jeff Kautz is Chief Investment Officer of Perkins Investment Management LLC (Perkins) and Co-Portfolio Manager of the Perkins Mid Cap Value strategy. He joined Perkins in October 1997 as a research analyst and became Co-Portfolio Manager of the Perkins Mid Cap Value strategy in January 2002 and Chief Investment Officer in 2007. Prior to joining Perkins, Mr. Kautz worked as a market maker and specialist on the Chicago Stock Exchange for G.V.R. Company. He was also a senior consultant for Andersen Consulting. Mr. Kautz received his bachelor of science degree in mechanical engineering from the University of Illinois and an MBA, with a concentration in finance, from the University of Chicago. He holds the Chartered Financial Analyst designation and has 17 years of financial industry experience.
Ted Thome, CFA
Ted Thome joined Perkins Investment Management LLC (Perkins) in September 2002 as a research analyst covering the healthcare industry. Prior to joining Perkins, he worked as a healthcare representative for Pfizer Inc., and served as a Captain in the U.S. Army. Mr. Thome received his bachelor of science degree in life science from the United States Military Academy at West Point, and his MBA, with concentrations in finance and accounting, from the University of Chicago Booth School of Business. He holds the Chartered Financial Analyst designation and has 8 years of financial industry experience.
Gibson Smith is Co-Chief Investment Officer, Fixed-Income, of Janus Capital Management LLC, a position he has held since January 2006. He is also a member of Janus’ Executive Committee and the Janus Capital Group Executive Advisory Board. As Co-Chief Investment Officer, Mr. Smith is responsible for Janus’ investment process across the firm’s equity, fixed-income and money market teams. The Director of Research, Director of Trading & Risk Management and the client portfolio management group also report to the Co-Chief Investment Officers. Mr. Smith serves as Co-Portfolio Manager of the High-Yield strategy and the Janus Short-Term Bond fund and related institutional strategies and is Co-Portfolio Manager and Executive Vice President of Janus High-Yield Fund. In addition, he serves as Portfolio Manager of the Balanced and Core Plus Bond strategies and as Co-Portfolio Manager of institutional accounts managed in the Short Duration Bond strategy. Mr. Smith served as Portfolio Manager of the Janus Short Duration Bond strategy from July 2003 to May 2007. Mr. Smith joined Janus in January 2001 as a fixed-income analyst. Prior to that, he was Vice President in the fixed-income division at Morgan Stanley. Mr. Smith earned a bachelor of arts degree in economics from the University of Colorado and has 19 years of financial industry experience.
Darrell W. Watters
Darrell Watters is Co-Portfolio Manager of the Janus Short-Term Bond strategy and is Co-Portfolio Manager and Executive Vice President of Janus Short-Term Bond Fund. Mr. Watters is also Co-Portfolio Manager of the Janus High-Yield and Janus Core Plus Bond strategies as well as Co-Portfolio Manager and Executive Vice President of Janus High-Yield Fund and Janus Flexible Bond Fund. Additionally, he is a fixed-income research analyst. Mr. Watters has been managing fixed-income funds for Janus since 1996. Prior to joining Janus as a municipal bond trader in April 1993, he was a municipal bond trader with Piper Jaffray. Mr. Watters received his bachelor of science degree in economics from Colorado State University. He has 24 years of financial industry experience.
About Perkins Investment Management LLC
Celebrating its 30-year anniversary, Perkins Investment Management LLC (Perkins) is a respected value equity manager with $16.1 billion in assets as of June 30, 2010. The firm uses a bottom-up approach to build diversified portfolios of what it believes to be high quality, undervalued stocks with favorable reward-to-risk characteristics. Perkins believes that rigorous downside analysis conducted prior to determination of upside potential helps to mitigate losses during difficult markets and compound value over time. Perkins is an indirect subsidiary of Janus Capital Group which has an approximate 78% ownership stake in Perkins.
About Janus Capital Management
Janus Capital Management is a recognized leader of growth and fixed income investment strategies. For four decades the Denver-based firm has taken a long-term view and used a bottom-up, company-by-company investment approach to gain a differentiated view in the marketplace. In addition to growth, core and international equity funds, Janus manages balanced, alternative, fixed-income and money market funds. Janus Capital Management is a wholly owned subsidiary of Janus Capital Group
About Janus Capital Group Inc.
Janus Capital Group Inc. (JCG) is a global investment firm that offers financial advisors, their clients and institutional investors strategies from three individual investment boutiques: Janus Capital Management LLC (Janus), INTECH Investment Management LLC (INTECH) and Perkins Investment Management LLC (Perkins). Each manager employs a research intensive approach that is distinct within its respective asset class. This multi-boutique approach enables the firm to provide style-specific expertise across an array of strategies, including growth, value and risk managed equities, fixed income and alternatives through one common distribution platform.
At the end of June 2010, JCG managed $147.2 billion in assets for shareholders, clients and institutions around the globe. Based in Denver, JCG also has offices in London, Milan, Munich, Singapore, Hong Kong, Tokyo and Melbourne.
Please consider the charges, risks, expenses and investment objectives carefully before investing. Please see a prospectus containing this and other information. Read it carefully before you invest or send money.
Funds that invest in bonds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds owned by the fund. Unlike owning individual bonds, there are ongoing fees and expenses associated with owning shares of bonds funds. The return of principal is not guaranteed due to net asset value fluctuation that is caused by changes in the price of specific bonds held in the fund and selling of bonds within the fund by the portfolio manager(s).
High-yield/high-risk bonds involve a greater risk of default and price volatility than U.S. Government and other high quality bonds. High-yield/high-risk bonds can experience sudden and sharp price swings which will affect net asset value.
The Fund's performance may be affected by risks that include those associated with nondiversification, non-investment grade debt securities, high-yield/high-risk securities, undervalued or overlooked companies, investments in specific industries or countries and potential conflicts of interest with Janus Smart Portfolios and Janus Modular Portfolio Construction® Fund. Additional risks to the Fund(s) may include those associated with investing in foreign securities, emerging markets, initial public offerings, real estate investment trusts (REITs), derivatives, short sales and companies with relatively small market capitalizations. Please see a Janus prospectus for more information about risk, Fund holdings and other details.
Perkins Investment Management LLC is an indirect subsidiary of Janus Capital Group Inc. and serves as an investment adviser.
Funds distributed by Janus Distributors LLC 7/10
Rona Gilbert, 303-336-4566
James Aber, 303-336-4513