Janus CIO Steps Down, Can Young Managers Mind the Store?

Jim Craig, the architect of top-selling Janus Capital's high-octane and highly successful growth investment style, will leave the Denver firm at the end of September to work for a family charitable foundation.

"Essentially I'm trading working at Janus for working for my wife. We'll see how that goes," says Craig, 44. The high-profile executive and former portfolio manager plans to manage money for a new charitable foundation focusing on Denver causes that his wife, a social worker, will direct.

Craig's departure comes at an awkward time for Janus. Its tech-heavy, concentrated investment style has cooled since last year, when the firm's fund performance and sales led the industry. ...