Janus Capital is planning to merge the Janus Olympus Fund into the Janus Orion Fund, Rocky Mountain News reports. Both funds are aggressive growth, go-anywhere funds.
Claire Young, who recently retired from the company, had run Olympus, which had delivered a 0.4% average annual return over the five years through June. Orion , on the other hand, has returned 9.6% in that timeframe, putting it at the top 4% of its peer group.
Shareholders are scheduled to vote on the merger at an Oct. 2 meeting. If approved, the merger would take place on Oct. 20. It could, potentially, result in lower fees, as the succeeding fund would have more assets.
Ron Sachs, who runs Orion, has taken over the reins of Olympus and would manage the merged fund.