DENVER, July 8, 2014 (GLOBE NEWSWIRE) -- Janus Capital Group Inc. (JNS) today announced that Myron Scholes, Ph.D., and Ashwin Alankar, Ph.D., two of the world's foremost experts on risk, economics and finance, will be joining the Janus Capital investment team. Mr. Scholes will allocate a significant commitment of his time to Janus and will serve as Chief Investment Strategist, while Mr. Alankar will be the head of Asset Allocation and Risk Management and Co-Portfolio Manager of the Janus Global Asset Allocation Funds.
In addition to supporting the funds, Mr. Scholes and Mr. Alankar will be advancing Janus' suite of asset allocation products and developing customized solutions. Both Mr. Scholes and Mr. Alankar will report to Enrique Chang, Janus' Chief Investment Officer of Equities and Asset Allocation.
"We are extremely fortunate to have attracted talent of Myron and Ash's caliber to the Janus team," said Mr. Chang. "Investments are about ideas and insight, and Myron and Ash's wealth of experience in the financial markets, combined with Janus' strong fundamental research history, will be an immediate asset to Janus as we seek to expand our asset allocation investment solutions with strong risk/reward characteristics customized to best enhance the investor experience."
As Janus' Chief Investment Strategist, a newly created position, Mr. Scholes will partner with the Janus investment team contributing macro insights and quantitative analysis specific to hedging, risk management and disciplined portfolio construction, as well as spearhead Janus' asset allocation product development. Mr. Alankar will define short- and long-term approaches to asset allocation, serve as lead portfolio manager for the Janus Global Allocation Funds, as well as have day-to-day responsibility for leading and advising on risk management across the platform.
Mr. Scholes is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, a Nobel Laureate in Economic Sciences in 1997 (along with Robert Merton) for his new method for determining the value of derivatives, and is the co-originator of the Black-Scholes options pricing model. Mr. Scholes is currently the chairman of the board of Economic Advisers of Stamos Partners and previously served as the chairman of Platinum Grove Asset Management. Additionally, he was a principal and limited partner at Long-Term Capital Management, L.P., and a managing director at Salomon Brothers. Other positions Mr. Scholes held include the Edward Eagle Brown Professor of Finance at the University of Chicago, senior research fellow at the Hoover Institution, director of the Center for Research in Security Prices, and associate professor of finance at Massachusetts Institute of Technology's Sloan School of Management. Mr. Scholes earned his Ph.D. at the University of Chicago.
"Janus has a strong investment team. I look forward to applying my experience to dynamically enhance Janus' asset allocation strategies and developing innovative allocation solutions to address unmet needs of investors," said Mr. Scholes. "I'm delighted to work in close partnership with Enrique and once again join forces with Ash to apply our thinking and developing technology to advancing the investment opportunities for Janus' clients."
Mr. Alankar was most recently the Co-Chief Investment Officer of AllianceBernstein's Tail Risk Parity products and a Senior Portfolio Manager and Senior Vice President focusing on the firm's systematic multi-asset-class alternative investment efforts. Prior to joining AllianceBernstein, he spent seven years at Platinum Grove Asset Management, where he was a partner and portfolio manager responsible for equity trading and research. Mr. Alankar holds a B.S. in mathematics and chemical engineering, an M.S. in chemical engineering, all from the Massachusetts Institute of Technology, and a Ph.D. in finance from the University of California, Berkeley, where he was a NASDAQ Fellow of Finance.
"I am thrilled at the opportunity to reunite with Myron and work alongside Enrique at a firm that is highly regarded for its strong fundamental research process and active management capabilities," said Ash. "There is a level of risk associated with every investment. Unlike reactive risk management, however, I believe that developing proactive risk management strategies can add significant value for investors by countering potential losses and limiting them before they materialize. It's essentially a new form of alpha earned by winning, and by not losing. It is this alpha that I aim to help the Janus investment team source through dynamic active risk management strategies and new asset allocation dynamics."
"Myron and Ash are world-class talents who we are thrilled and honored to welcome to the Janus team," said Richard M. Weil, CEO of Janus Capital Group. "They will be instrumental in advancing our development of asset allocation products and customized solutions, and we believe will help our entire team deliver superior risk-adjusted performance and innovative strategies."
About Janus Capital Group Inc.
Janus Capital Group Inc. (JCG) is a global investment firm dedicated to delivering better outcomes for clients through differentiated investment solutions from three independent managers: Janus Capital Management LLC (Janus), INTECH Investment Management LLC (INTECH) and Perkins Investment Management LLC (Perkins). Each manager brings a distinct perspective, style-specific expertise and a disciplined approach to risk. JCG's multi-boutique approach provides clients with distinctive solutions across a broad range of asset classes including equities, fixed income, alternatives, asset allocation and income products.
At the end of March 2014, JCG managed approximately $174.1 billion in assets for shareholders, clients and institutions around the globe. Based in Denver, JCG also has offices in London, Milan, Munich, Singapore, Hong Kong, Tokyo, Melbourne, Paris, The Hague, Zurich, Frankfurt, Dubai and Taipei.
Past performance is no guarantee of future results. Call 877.33JANUS (52687) or visit janus.com/advisor/mutual-funds for current month-end performance.
There is no assurance the stated objectives will be met or that the investment process will consistently lead to successful investing.
Diversification neither assures a profit nor eliminates the risk of experiencing investment losses.
Investing involves risk, including the possible loss of principal and fluctuation of value.
Any portfolio risk management process discussed includes an effort to monitor and manage risk which should not be confused with and does not imply low risk or the ability to control certain risk factors.
Alpha compares the risk-adjusted performance of a portfolio to a benchmark index. A positive alpha means the portfolio has outperformed the index on a risk-adjusted basis.
Please consider the charges, risks, expenses and investment objectives carefully before investing. For a prospectus or, if available, a summary prospectus containing this and other information, please call Janus at 877.33JANUS (52687) or download the file from janus.com/info. Read it carefully before you invest or send money.
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