Janus of Denver will introduce a new group of 11 funds, the Adviser Series, on Aug. 1, according to a registration statement filed with the SEC June 12.
The new series clones existing funds and will be sold through broker/dealer wrap accounts, bank trust departments and financial advisors, according to the registration statement. The Adviser Series will expand the scope of Janus' institutional sales beyond the defined contribution and variable annuity channels, the statement said.
The funds are no-load, but will carry 0.25 percent 12b-1 fees to cover distribution costs, according to the statement. Each fund has a minimum initial investment of $100,000.
Janus has developed the Adviser Series to meet broker/dealers', banks' and financial advisors' demands for Janus funds, according to the registration statement. (MFMN 4/10/00)
Introducing a new line expressly for the institutional market will make a stronger impression than simply offering another share class, said Dennis Dolego, director of research for Optima Group of Fairfield, Conn.