Janus Funds See Outflows for the First Time in Years

Janus shuttered most of its sexiest growth funds to reduce steep inflows, but the firm might want to be careful what it wishes for.

The latest cash-flow figures show that investors are still rabid for Janus' flavor of high-octane growth investing with a taste for technology and biotechnology stocks, but closed doors at eight of Janus' hottest funds are sending them elsewhere. Meanwhile, most of the Janus funds still open to new investors aren't shooting the lights out. Consequently, while Janus, which manages more than $300 billion for 4 million investors, is still this year's top-selling firm through Aug. 31, flows into its funds in August were about one-sixth what they were the month before. And early flow estimates for September indicate that, for the first time in years, investors are taking more money out of Janus stock funds than they've invested.

Out of Janus Money is flowing out of Janus funds for the first time in years.
May	$1.5 billion
June	1.8 billion
July	1.2 billion
August	220 million
September	-63.8 million*
Source: Financial Research and Janus. *September flows through Sept. 25 and represent stock-fund flows.

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