Janus Taps New Manager For Flagship Janus Fund

Janus Capital has appointed a new portfolio manager for its flagship Janus Fund. With the fund's peers outperforming the fund since 2000, David Corkins will be taking over the helm of the fund from Blaine Rollins, who has been reassigned to the smaller Janus Triton Fund. Corkins previously managed the Janus Mercury Fund.

In 2005, the Janus Fund, which has $11.2 billion in assets, returned 4% for the year, trailing its peers by 2.5 percentage points.

Corkins joined Janus in 1995. The Mercury Fund returned 6.8% in 2005 under his management and earned a five-star rating from Morningstar, based on its risk-adjusted returns.

Separately, Janus promoted Jonathan Coleman, manager of the Janus Enterprise Fund, and David Decker, manager of the Janus Contrarian Fund, to act as co-chief investment officers.

Federated Promotes Fisher To President, Chief Exec Of Advisory Subsidiaries

Federated Investors has promoted John B. Fisher to president and CEO of the firm's investment advisory subsidiaries. Fisher is replacing Keith M. Schappert, who has resigned and will remain with the firm for just one more month, during a transition period.

"With two decades of diverse hands-on experience in the institutional area, Fisher brings exceptional business and management acumen to his new position as CEO of our investment unit," said Christopher Donahue, Federated president and CEO. "At Federated, the position of directing our investment advisory companies requires in-depth industry experience, excellent people skills, dedication to outstanding investment performance and firsthand understanding of the needs of our clients."

In his 26 years in the business, Fisher has managed and launched mutual funds and separately managed accounts. "With a strong foundation in place in both our equity and fixed-income divisions, my role will be to retain and attract talented investment personnel as well as provide continuity and stability so that we can remain focused on producing outstanding performance for our clients."

In his most recent role at Federated, as president of Federated Investment Counseling, Fisher oversaw all separately managed and sub-advised accounts.

Millennium's Feldschuh Joins Morgan Stanley

Morgan Stanley's investment management division has hired Michael Feldschuh as a managing director and portfolio manager. Feldschuh and his team comes to Morgan from Millennium Partners, where he worked for eight years, also as a managing director and portfolio manager. In his new position, he will be responsible for running process-driven strategies for alternative investment products.

"Michael and his team have excellent analytical skills and strong investment experience, and we are pleased they have joined our team," said Yie-Hsin Hung, managing director and head of Morgan Stanley investment management's absolute return strategies group.

Feldschuh has not only been hired to bolster and grow the firm's alternative investments business, but also to "maintain a strong focus on investment excellence," said Owen Thomas, president and COO of Morgan Stanley investment management. Thomas added that he believes in both Feldschuh and the team, and knows they will make key contributions to the firm.

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