(August 9 – 15:25 ET) – Jim Craig, chief investment officer and director of research at Janus Capital, is leaving the firm to manage his family’s charitable foundation. Janus’ parent company, Stilwell Financial Inc., reported the news today.
The move comes on the heels of an acrimonious spinoff by Stilwell from Kansas City Southern. Many analysts — and Janus executives — argued that there would be more value in spinning Janus off into its own publicly traded company. Analysts says a lot of shareholder value remains locked up if Janus stays within Stilwell. Along with Janus, Stilwell includes Berger Associates Inc., Nelson Money Manager plc, and a 32% interest in DST Systems Inc.
Last February a couple of Janus funds became available in Canada through Maxxum Fund Management Inc. Well-known Janus manager, Marsico Capital Management, also manages a couple of funds for Synergy Mutual Funds.
“All of us respect the new direction Jim and his family are taking. He will obviously continue to be a valuable asset to his community. We are disappointed at his departure but are grateful that he has left in place at Janus a team of first-class talent to carry on. We wish him well,” said Landon Rowland, chairman, president and CEO of Stilwell.
Craig, 44, will be replaced by a committee of the firm’s top managers, and the firm will stick with its aggressive investment style. He hasn’t been managing a portfolio since late last year.