Janus Balanced JJABAX

Morningstar Rating

Fund Research and Analysis

by Michael Herbst

Janus Balanced is returning to business as usual.

This fund's management took significant steps to shield investors during the market's recent turmoil. Well before late 2008's maelstrom, it had pared back the portfolio's stock sleeve to roughly 40% of assets and boosted its stake in U. Read more

Kudos

Janus has built up its fixed-income research team in recent years.

Relatively low expenses.

Attractive results since management took the helm in May 2005. Read more

Risks

Using a large-cap growth style on the stock side may not suit investors who are looking for a more value-oriented offering.

Recent management turnover at Janus is a concern. Read more

Strategy

Comanager Marc Pinto is using a conservative growth strategy to guide the stock portion of the fund. He wants to own firms with good business models and strong competitive positions and looks at returns on invested capital and profit margins for supporting evidence. Read more

Management

Marc Pinto guides the stock selection, while Gibson Smith picks bonds. They collaborate on asset-allocation decisions. Prior to taking the reins here in 2005, Pinto ran growth-oriented separate accounts for Janus since 1997. He runs the fund's stock sleeve in a manner similar to his other charge, Janus Growth & Income JAGIX. Read more

Inside Scoop

Janus put a new team in charge of this fund in May 2005. Comanagers Marc Pinto and Gibson Smith will typically stay within 5 percentage points of a 60/40 split between stocks and fixed income. Read more

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