Buchanan Leaves Janus Sohn, Smith Promoted

Michael Buchanan, the Janus High-Yield Fund portfolio manager, said he is quitting after a mere five months on the job. Originally Buchanan came to Janus Capital from New York-based investment firm BlackRock to replace Sandy Rufenacht as manager of the fund. Buchanan will leave the firm Dec. 19 and will be replaced by Gibson Smith, manager of Janus' short-term bond products and assistant portfolio manager of the Janus Flexible Income Fund. Smith will continue to run the Janus Short-Term Bond portfolios.

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