Julian Pick, co-manager of two Janus Group international mutual funds, is leaving at the end of the month, Rocky Mountain News reports.
Janus indicated that Pick is leaving due to disagreement over development of a future product and will be pursuing other opportunities.
Janus has been hit with a number of high-profile departures in the past two years, with a tally of 16 fund managers leaving. Under the leadership of CEO Gary Black, portfolios are managed by teams rather than by single managers, and some may be protesting the way they are compensated.
Pick had been with Janus for the past 10 years and had a solid track record. The $162 Janus Adviser International Equity Fund, for instance, ranked in the top 6% of its peer group for the 12-month trailing period ended in August, having declined only 4%.