Janus Contrarian JJSVAX

Morningstar Rating

Fund Research and Analysis

by Andrew Gogerty

Janus Contrarian is back out in front.

As we noted in previous looks at this fund, manager David Decker has a track record of handily making up for down-market losses during upswings. That happened coming out of the 2000-02 bear market when the fund rallied hard from 2003-07. Read more

Kudos

Manager David Decker's conviction in his stock picks has often, but not always, paid off in the long run.

Janus has a large research staff, which we think is critical to this fund's flexible approach.

Modest fees. Read more

Risks

A concentrated portfolio means that performance can head south if a few stocks founder.

Investors looking to invest by the Morningstar Style Box will have problems with slotting the fund's go-anywhere mandate. Read more

Strategy

David Decker looks for stocks with what he considers to be asymmetrical risk profiles, or a higher probability of upside and a smaller probability of limited downside. He likes companies with strong free cash flow, accelerating returns on invested capital, and savvy management. Read more

Management

David Decker has been on board since the fund's inception in February 2000. Decker started his career at Janus in 1992 as a research analyst. The fund's comanager, Matthew Ankrum, left the fund in spring 2006, less than two years after taking the portfolio-management job. Read more

Inside Scoop

This fund's go-anywhere nature makes it a challenging but intriguing option. Read more

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