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 firms 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 dont 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.