Those who followed Marsico Flexible Capital (MFCFX) remember its beautiful performance, but then its manager Douglas Rao left Marsico and joined Chautauqua Capital Management,
http://www.prnewswire.com/news-releases/chautauqua-capital-management-names-a-douglas-rao-partner-and-co-portfolio-manager-166119886.htmlIt seems that he decided to return to fund management, at Janus. This is from M*:
The firm also has hired Douglas Rao to manage Janus Forty, which should differentiate it in the future from the previously identical Janus Twenty. Rao worked at Marsico Capital Management (founded by former Janus manager Tom Marsico) as an analyst and manager from 2005-12, steered Negative-rated Marsico Flexible Capital (MFCFX) to a fine record in a five-year tenure, and comanaged Neutral-rated flagships Marsico Growth (MGRIX) and Marsico Focus (MFOCX) for 2.5 years. Janus Forty is now expected to have a larger stake in non-U.S. stocks than Janus Twenty.
I wonder what do you think about it, in view of many recent manager departures from Janus, see
http://news.morningstar.com/articlenet/article.aspx?id=597235
Comments
I will follow this fund going forward. MFCFX seems to still be performing quite well.
During the 5 years when Rao was the manager, the fund outperformed S&P 500 by 60%. Meanwhile since his departure the fund is doing almost exactly as S&P 500. It is not bad at all, but...
I too own of significant stake in MFCFX and was very dissappointed when Mr. Rao left. BUT, the fund is still performing very well w/o him! Something to ponder!!!!
I don't know anything about Janus 40 but I will be keeping an eye on it now.