Richard Weil wants to offer investors a less bumpy ride.

According to Bloomberg, the Janus CEO is "introducing funds that seek to spread risk across asset classes and protect clients from sharp market drops. Instead of focusing on returns, which are difficult to forecast, the so-called asset allocation funds offer investors varying levels of volatility."

This move, according to the newswire, is aimed at stemming a "five-year customer exodus."

For example, the newswire notes, the Denver-based asset manager introduced in December the Janus Diversified Alternatives Fund, the first of these new low vol funds, that uses derivatives to mimic the returns from stocks, bonds, commodities, currencies and real estate.

The Bloomberg story echoes an interview Weil gave last month to Barron's, when Weil said that he is putting his flag down in the alternatives space.

To set the foundation for these new products, Weill hired in May former Nikko International chief investment officer Andrew Weisman to head the firm's new alternative-investments group. He then hired former Bear Stearns exec RIchard Lindsey to serve as chief strategist of this business.

To learn more about the move, go to Bloomberg. 

Edited by: Tommy Fernandez


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