Janus Capital Group on Friday launched two new diversified equity mutual funds in an effort to leverage the firm's research depth, a reputation that was sullied when the market tanked in the aftermath of the dot-com bubble.

Janus' first new retail offerings since mid 2001, the new funds provide further evidence of the Denver-based firm's nascent recovery under the leadership of Gary Black, a former top-rated tobacco analyst who was hired away from Goldman Sachs 10 months ago to right the ship. One of his first tasks at the firm was to restore credibility to the research department, after having served as the poster child for irrational exuberance in the late 1990's.

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