Janus Capital Files For Active ETFs

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September 9, 2010 10:59am ETF BASIC NEWS

Janus Capital Management, the Denver-based investment manager, filed with the SEC on Sept 3rd, requesting for exemptive relief to launch actively-managed ETFs. The funds, if granted relief,

 will be allowed to invest in equities, fixed-income securities in both domestic and foreign markets. The ETFs will also be allowed to invest in other funds if Janus’ “fund-of-funds” relief is approved. As with all Active ETFs in the US, the funds will provide complete transparency of their holdings.

Like most other fund companies, Janus’ filing casts a wide net allowing the company the flexibility to start off with any investment strategy they see fit for their initial funds. As of now, their investment objective is just to “seek long-term growth of capital and current income”. The application also allows Janus to hire external sub-advisors to lead the day-to-day management of the funds. However, the description of the initial funds clearly points out that they will not invest in derivatives such as swaps, options or futures. That should help Janus avoid increased scrutiny from the SEC that many ETF applications have been subject to, since the SEC launched its investigation into derivative usage in ETFs in March.

Janus Capital Group, the parent company of Janus Capital Management, managed $147.2 billion in assets as of June 30, 2010. Janus Capital focuses on employing fundamental, bottoms-up research in its investment process and currently provides access to various equity, income and alternative mutual funds. Janus joins a long line-up of mutual fund firms that have filed applications with the SEC to launch actively-managed ETFs – these include the likes of Legg Mason, Eaton Vance, T. Rowe Price and John Hancock.

Written By Shishir Nigam from ActiveETFs | InFocus

Shishir Nigam is the founder of ActiveETFs | InFocus (http://www.etfshub.com/), which provides extensive coverage and analysis of actively-managed ETFs in US and Canada, including debates on major industry trends, insights on the latest product launches from issuers in the Active ETF space as well as in-depth interviews with industry executives and thought leaders.

Disclosure: No positions in above-mentioned names.
Disclaimer: Views and opinions expressed on EtfsHub are those of the author alone and do not in any way represent the official views, positions or opinions of the employers – both past or present – of the author in question, or any other institutions and corporations associated with the author. Neither the information nor any opinions contained or expressed above and elsewhere on EtfsHub constitutes or should be construed as a solicitation or offer by EtfsHub to buy or sell any securities or other financial instruments or to provide any investment advice or recommendations. None of the material above and elsewhere on EtfsHub is intended to endorse or promote any company or its products. EtfsHub shall not be liable for any claims or losses of any nature, arising indirectly or directly from use of the information on or accessed through the site. Please see full disclaimers here.

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