Janus Capital Group is working on unveiling three new funds-of-funds designed to offer investors ready-made diversification, Rocky Mountain News reports, citing a Janus filing with the Securities and Exchange Commission. The company's new Smart Portfolios will invest broadly across Janus stock, bond and money-market portfolios, with the growth portfolio investing between 75% to 85% in equities, the moderate portfolio investing between 55% to 65% in equities and the conservative portfolio investment between 35% and 45% in stocks.

Funds-of-funds have been gaining in popularity among investors who don't want to think about hard asset-allocation and rebalancing decisions, with assets in such funds topping $117 billion, up from $54 billion at the end of 2002, according to Financial Research Corp.

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