Mark Whiston, CEO-elect of Janus, announced this morning that the board of trustees of the Berger Funds has voted in favor of Janus assuming control of three of the firms value funds. Pending a March proxy vote, the board has also approved for seven of the Berger growth and three of its institutional products to be merged into Janus funds.
In the interim, Janus has agreed to become advisor to certain of the Berger funds beginning this Monday, Whiston announced.
Janus has also agreed to take a 30% ownership in Perkins, Wolf, McDonnell, the investment advisor to two of the Berger value funds, the Berger Small Cap Value Fund and the Berger Mid Cap Value Fund.
Janus also announced that it will launch two new funds in its Janus Adviser Series, a small-cap and a mid-cap fund
Perkins, a Chicago-based money management firm founded in 1980, "has distinguished itself as one of the premier small and mid-cap value shops in the industry," Whiston said in a statement.