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Janus Henderson Will Close Four Perkins Funds, Eliminate Brand

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Miles Weiss and John Gittelsohn
·1 min read
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(Bloomberg) -- Janus Henderson Group Plc is closing four funds managed under the Perkins advisory banner and phasing out the brand, originally purchased in an effort to push into value investing.

The London-based firm will shut the Perkins international, global, value-plus-income and U.S. large-cap funds by April 30, according to a Janus Henderson spokeswoman. Its small and mid-cap strategies, which represent about 85% of total assets at Perkins, will be run by the existing portfolio managers under the Janus Henderson name, the parent company said in a regulatory filing.

After its reliance on growth stocks backfired when the Internet stock bubble burst in 2000, Denver-based Janus Capital Group Inc. initially bought a 30% stake in Perkins, Wolf, McDonnell & Co. in 2003. Now that two decades have passed, value stocks have generally lagged growth stocks and active fund managers have fallen out of favor amid investor migration to passively managed index funds.

“We have undertaken a review of Perkins,” Janus Henderson said in a statement. “In connection with this reorganization effort, the Perkins brand will be wound down and future marketing efforts for value equity strategies will be incorporated under the Janus Henderson brand.”

Janus bought the remainder of the Chicago-based firm in subsequent years. It managed about $8.2 billion as a Janus unit at the end of last year.

Earlier this month, Janus Henderson disclosed that its biggest investor, Dai-ichi Life Holdings Inc., was selling its stake in the firm.

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