Janus Capital Group said Monday it plans to sign a fund distribution deal with the private banking arm of J.P. Morgan Chase to increase asset inflows, according to Reuters.

Under the agreement, JP Morgan Private Bank will recommend Janus subsidiary INTECH's $700 million Risk Managed Core Fund worldwide to its wealthy clientele.

JP Morgan Private Bank, which requires a minimum of $5 million to open an account, manages assets worth $275 million, making it the biggest private bank in the U.S. and the third-largest in the world.

Janus has already signed distribution deals for its funds with the private banking arms of banks such as Merrill Lynch, UBS and HSBC.

The fund company's ranking has slid to 14th place in the U.S. due to a substantial decline in assets over the years and allegations over market timing practices at some of its funds. Its tie-up with JP Morgan is expected to bolster its position as the private bank only offers select products after conducting rigorous research.

Janus has a 77.5% stake in Enhanced Investment Technologies (INTECH), which specializes in investments using mathematical strategies tailored around indexes.

INTECH's Risk Managed Core Fund, which invests mostly in U.S. equities, saw a 12.2% return in the 12 months ended January 31 compared with the 6.23% return of the S&P 500 Index.

Erich Gerth, who heads Janus' international business, told Reuters it was difficult to estimate the value of inflows from the deal.

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