Shareholders of Janus Capital Group's voted this past Monday to approve performance-related fees, according to a Dow Jones Newswire.

The new fees will apply to 13 of 59 stock and bond funds in which almost $20 billion of assets are invested.

The fee will vary within a band of plus or minus 0.15% from the current fee. All depends upon how well the portfolio performs, said Shelley Peterson, Janus spokeswoman.

"You don't want to [give incentives for] inappropriate risk-taking, so a fund on the more aggressive side of the risk spectrum will have to outperform or underperform by a greater percentage than one on the more conservative side of the risk spectrum to get or lose the performance related part of its fee," she said.

The proposal was motivated by the firm's independent trustee and was supported by the firm because it brings the firm into an alliance with the shareholders.

The fees came into effect Jan.1 for four of the 13 funds, and the rest go into effect Feb. 1.

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