The co-portfolio manager of the $11-billion Janus Worldwide Fund and $2.6-billion Janus Overseas Fund will remain with the company through the end of the year to ensure a smooth transition of her responsibilities. Laurence Chang, co-portfolio manager of Janus Worldwide Fund, and Brent Lynn, co-portfolio manager of Janus Overseas Fund, will assume lead management responsibility for those funds respectively, according to a Janus news release.
Hayes, 40, said in the statement that Janus has made tremendous strides in strengthening its investment team over the last two years and her successors on the two funds are ready to assume the reins. She also feels the company is well-positioned for success under new Chief Executive Mark Whiston, with a “sharpened focus.” “That’s why I feel that now is the right time for me to retire,” she added.
With the announcement, Whiston said he would initiate a search for a chief investment officer (CIO) for Janus Capital Management. The search will be conducted by Whiston and two Janus Capital Group board members: Jim Craig and Andrew Cox.
Hayes came to Janus in May 1987 from Fred Alger Management in New York. She has managed or co-managed Janus Worldwide Fund and Janus Overseas Fund since their inceptions in May 1991 and May 1994, respectively.
Chang, who will assume the lead management roll of the Janus Worldwide Fund, has worked with Hayes for 10 years and has been co-portfolio manager of the fund since September 1999. In addition to managing Janus Worldwide Fund, Chang manages separate accounts and institutional commingled funds in the global growth discipline. He was co-portfolio manager of Janus Overseas Fund from April 1998 to December 2000. He joined Janus as an analyst on the international team in June 1993.
Lynn, the replacement for the top spot of the Janus Overseas Fund, has worked with Hayes for 12 years and has been co-portfolio manager of the fund since January 2001. He joined Janus in April 1991 as a research analyst and has specialized in international markets since 1993.