MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, August 10, 2012 The Sun Rises on Janus Shares 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. Printed from: MFWire.com/story.asp?s=40912 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |