Janus Set To Launch Hedge Fund...Sort Of

Jan 19 2006 | 7:41pm ET

Denver-based mutual fund firm Janus Capital Group is revving up to launch its first hedge fund-like product at the end of March. The fund will go long and short like a hedge fund, but it will be marketed to retail investors, not targeted at the uber-wealthy.

According to a Securities and Exchange Commission filing, the Janus Adviser Long/Short Fund, which will have a minimum investment of $10,000, will be managed by Matthew Ankrum and David Decker, who have been with Janus since 1996 and 1992, respectively.

“There are certain advantages to investing in this type of product, such as the liquidity, the transparency and the lower minimums,” said Shelly Peterson, a spokeswoman for the firm. “The expenses on this fund are also less than most traditional hedge funds.”

Peterson, citing regulatory requirements, declined to give specific information about the managers’ experience shorting stocks, which they plan to do for the new fund. “At this point in time, we are selling this fund through our intermediaries,” said Peterson, adding, “we would not launch a product if we did not have extreme confidence in our ability to deliver for shareholders.”

In the filing, Janus said that by utilizing both long and short positions in securities markets, the fund aims to generate positive returns no matter which way the markets are going. 

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