CEO
Richard Weil put
Janus on a top ten list on an otherwise sleepy Friday. The mutual fund firm's deal with Japan's
Dai-ichi Life pushed its shares up more than 10 percent on Friday (shares were changing hands at $8.50 prior to the market close). The gain made Janus' shares the seventh biggest gainer on the day.
The stock opened the day trading at $8.81 and traded as high as $9.12 for an 18 percent gain before falling back in the afternoon. Volume in the stock was more than 5.5 times its daily average.
Investors may be hoping that Dai-ichi opens doors to Janus in Japan, where it is that nation's second largest life insurer. Dai-ichi already has announced that it will steer $2 billion of existing client assets to Janus. Dai-ichi will distribute Janus' funds in Japan through DIAM Asset Management. Dai-ichi is already partnered with Mizuho Financial on DIAM.
The Janus deal comes on the heals of SocGen's long-awaited announcement of its sale of TCW to Carlyle. Taken together, this week's deals may mark a geographic shift from West to East as European institutions have become sellers and Asian companies buyers of U.S. mutual fund firms. 
Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE