Janus Capital Management announced yesterday Helen Young Hayes, portfolio manager of Janus Worldwide Fund and managing director of investments, will resign from her daily responsibilities, effective June 16.

Laurence Chang, co-manager of Janus Worldwide Fund, and Brent Lynn, co-manager of Janus Overseas Fund, will assume lead management responsibility. In order to ensure a smooth transition, Hayes will remain on staff for the remainder of the year, at which time she will retire from asset management business completely.

Hayes has managed the $11.1 billion Janus Worldwide Fund since 1992, and worked at Janus since 1987. In 1997, she was named Morningstar’s manager of the year. Before joining the Denver-based firm, Hayes worked at Fred Alger Management in New York.

"Helen’s retirement closes the chapter on a remarkable 19-year career during which she emerged as one of the industry's leading international portfolio managers," Janus Chief Executive Officer Mark Whiston said in a statement. "During her time at Janus, she helped shape the firm's research-intensive culture while building one of the most respected international investment teams in the business. Her contributions to the growth and success of Janus have been immeasurable."

In light of her departure, Janus said that it would initiate a search for a chief investment officer.

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