Investors Pull Billions Out of Janus Funds

[NNN0LHI]

http://ap.tbo.com/ap/breaking/MGAA2PG5LLD.html

DENVER (AP) - Investors pulled $4.4 billion out of Janus Capital Group last month, most of it after questions were raised about trading practices at the Denver-based money manager.

About $3.4 billion of the total came from equity and fixed-income funds. Another $1 billion came out of institutional money-market funds, which are prone to large swings, the company said in a news release Wednesday.

In all, Janus' assets under management at the end of September fell to $146.5 billion from $152 billion at the end of August, a decline of 3.6 percent.

Market depreciation contributed another $1.1 billion to the decline, the company said.

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[mistertrickster]

1. As long as the SEC goes after Martha Stewart and lets the big players

run the tables, we'll continue to see this shit.

Lunatics running the asylum . . .

[jiacinto]

2. I used to own a few Janus funds

I owned Janus Capitol Appreciation, Enterprise, and Special Situations for a while. I got out of all of them after they had wreaked havoc on my portfolio. All I have left from them is a stake in Janus Special Equity, which is in my IRA. The losses from the other funds have helped reduce the taxes I owe, though.

Morningstar recommends that people leave Janus. But then again it all depends on the tax situation and whether the funds have actually made gains.

[cliss]

3. Yup. Janus is

one of the bad ones. I've been following this fund for about 2 years now. Just a small bit of bad information started leaking out.

Fund managers quitting....some talk about bad business practices....questions being raised about ethical behavior....

This was quite a while before it even came out in the news.

One of the surest ways to spot trouble in a mutual fund is to keep track of the fund managers. If they exit stage left, or leave in clusters (like 3 or 4 or more) you can bet there are problems. Think about pulling out, or at least watch them like a hawk for a while.

A mutual fund is only as good as its managers. If they make stupid decisions, the investors pay.

[twilight]

4. what about other mutual funds I wonder?

I had money in mutual bond funds and sold them before the scandal broke back in June. I hope I did the right thing. I wonder how deep this corruption is?

I find having money invested in the stock market to be a very frightening proposition during these times. I managed to buy a CD at 4.5% with the funds I withdrew.

Great choices these days isn't it? :grr:

:kick:

[jiacinto]

8. It depends on the fund

You might have a large tax bill looming if you exit your fund. It depends on the specific fund, but I would watch Janus carefully.

As for the whole stock market, if you have a long term horizon, I would invest in the market. But that is only with money that you aren't going to need for at least 5 years.

I would not avoid stcks alotgheter just based on one bad firm.

[revcarol]

5. So sick. Janus just says, "Oh, we're sorry ..."

and the stock price goes UP.

Sounds like a conspiracy in restraint of trade to me. How do you just "happen" to have 12 of these schemes operating at the same time?

[twilight]

6. yep the price goes UP

Same deal here but I just do not trust anything related in anyway to what we see at this time. Its all based on LIES and more LIES.

At least I don't have to worry or think about it anymore. That is a big relief in itself. My aunt had money in that and has lost 60% of the initial investment. Now that would really make me sick! :puke:

:dem:

[Superfly]

7. No...you mean Jah-Anus

nt

[revcarol]

9. Good one!!

LOL