While the bear market and the fund scandal have taken a tremendous toll on Janus since 2000, Morningstar says the firm has, once again, returned to its roots as a solid investor and stock researcher.

Janus’s troubles began in the late 1990s when its growth investing style was delivering impressive returns, and, with it, strong asset flows. As a result, the funds ended up with overlap and the firm hired a slew of analysts who were too inexperienced to recognize the impending burst of the bubble.

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