Janus Capital has had to withstand some face slapping from investors while it attempts to cure its ailing business, but it may soon run out of available cheek space as the hits keep coming.

The Denver-based fund shop, which has endured a facelift of senior management, a massive settlement with regulators and extremely poor performance over the course of the bear market, was dealt another blow late last month when one of its investors alerted the firm it plans to redeem $5 billion by year's end. The unnamed investor, which is widely suspected to be a pension plan, notified Janus shortly after the firm's July 22, second-quarter earnings call and said that its board of governors will vote on the withdrawal in early August.

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