Janus Denies Rumors of Dumping Tech Stocks to Meet Redemptions or Liquidate Global Tech Fund
Amid a steep selloff for technology and telecommuncations stocks, top-selling growth fund shop Janus is denying that its managers are dumping their massive stakes in technology and telecommunications stocks or planning to liquidate the $7.6 billion (JAGTX)Janus Global Technology fund, which is currently closed to new investors.
"When I came in this morning, there were rumors in Paris that Janus was selling huge portions of tech and telecom stock either to meet redemptions or because we are closing our technology fund," said Janus spokeswoman Jane Ingalls. "Both are absolutely and profoundly false."
When asked if the firm is selling tech and telecom today, Ingalls replied, "Historically, we have been committed to these stocks. However, I can't comment on current trading." ...
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