Janus announced that Scott Schoelzel, who has managed the Janus Twenty Fund for the past 10 years and has been with the firm for the past 14 years, will be leaving the company at the end of the year.

Schoelzel certainly has been one of the industry’s star managers, delivering an average return of 8.5% over the past decade and placing in the top 2% of his peers, Rocky Mountain News reports. “Very few times do you have an opportunity to go out on top,” he told the paper.

“The legacy Scott leaves—words don’t do it justice,” said Janus Chief Investment Officer Jonathan Coleman. “As a stock picker and as an observer of so many across trends [he succeeded in] distilling [them] into individual stock selections.”

Although Janus is said to have finally turned the corner in terms of stanching outflows and delivering strong returns, there has been a good deal of change among investment management executives, with Schoelzel becoming the 12th manager to leave in the past year and a half.

Ron Sachs will take over the Janus Twenty Fund along with others that Schoelzel managed, including the Janus Adviser Forty Fund and the Janus Aspen Forty Portfolio. Replacing Sachs on the Janus Orion Fund will be research analyst John Eisinger, who will continue contributing to the Janus Research Fund.

Schoelzel, who said he is not planning to open an asset management firm of his own, said he stayed with the firm until it re-established its “stature in the investment community. It’s virtually indisputable that has happened. I feel my bargain with the firm is now complete.”

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

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