James Craig will turn over management of the $31 billion Janus Fund to the funds assistant portfolio manager Blaine Rollins Jan. 1; Mr. Craig will become a full-time chief investment officer. Mr. Craig has been CIO as well as manager of one of Janus largest mutual funds. Mr. Craig also will become director of research, a new position. Mr. Rollins current duties as portfolio manager of the $2.5 billion Janus Balanced and $969 million Janus Equity Income funds will be assumed by Karen Reidy, who was assistant manager of those two funds. Ms. Reidy will continue as assistant portfolio manager of the Janus fund. John Schreiber, who was assistant portfolio manager of the Balanced and the Equity Income funds, will become assistant portfolio manager of the Janus Fund.
The changes have nothing to do with the spinoff plans of Janus parent company, Kansas City Southern Industries, Mr. Craig said. KCSI intends to spin off Janus and its two other non-railroad subsidiary companies into a distinct new firm, possibly before years end.