Schoelzel has trimmed positions in energy, a sector he says has “played itself out.” He recently sold
The manager has also shed some bigger large caps for ones with smaller market capitalization values, which, he said, offer greater overall growth potential.
Agricultural stocks, especially companies that sell hearty seeds in a globally drought-ridden environment, have also served the fund well.
Likewise
Meanwhile, over on the east coast, Janus’ Palm Beach, Fla.-based
Janus owns an 82.5% stake in the company, which sells mostly to institutional investors, and the subsidiary serves as a bright spot in an otherwise grim few years for the firm.
INTECH founder Robert Fernholz described the company’s investment strategy as “enhanced indexing.”
INTECH offers a retail fund, but Janus has not yet decided whether to launch a retail version of the new internationally diverse strategy, according to company spokeswoman Shelly Peterson.
Some analysts suggest that as institutional investors turn to active managers in the hunt for alpha, INTECH’s inflows will be stifled.
Janus Chief Executive Gary Black said that ebbs and flows in the market are inevitable, but his model will persevere. “Performance is very strong on a long-term basis,” he said.