As it promises to focus on high-stakes growth investing and its funds finally return to positive territory, Janus Capital is seeking a market risk czar who will work with the firm’s portfolio managers to avoid sharp declines.

"A coach, not a cop," is what the company is looking for, CIO Gary Black told the Rocky Mountain News. "We don’t want portfolio managers to run and hide when they see this person."

Black said the new risk-management captain would evaluate the risks a particular fund manager takes by focusing on their beta, or the amount that their fund fluctuates from the broader stock market. The risk czar will also monitor style drift. The intention is to provide consistent returns and to avoid the tremendous downturn the Janus funds experienced in the bear market because of their aggressive investments.

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.