DENVER In a teleconference for securities analysts and shareholders from Janus Capital Management headquarters here this morning, executives of the sixth-largest equity manager in the U.S. mapped out their post-restructuring strategy.
Among the items on Janus "To Do" list for the new year is broadening its mutual fund lineup with several new fund launches, leveraging its distribution capabilities and improving fund performance. Adopting a best-of-breed mantra is also on Janus wish list for 2003.
No matter how good your marketing and distribution are, at the end of the day nothing is more important than performance, said Mark Whiston, Janus current president of retail and institutional services and its CEO-elect. "Youve got to deliver the goods," Whiston said.
As announced in September, on Jan. 1, 2003, Stilwell Financial will meld all of its operations into one unified organization that will take on the Janus Capital moniker. Both Enhanced Investment Technologies (INTECH) and Bay Isle Financial, both formerly owned by Janus sister company Berger Financial, will become direct investment subsidiaries of the new Janus.
In 2003, Janus is planning to push even further into the financial intermediary distribution channel, leaving the direct-to-investor channel in the dust. Five years ago, 95% of Janus fund sales came from direct, no-load distribution, Whiston said. Today, the direct no-load channel accounts for a mere 25% of Janus assets, with the intermediary channel accounting for more than 52% of assets, he said.
