The asset manager has turned itself around, thanks in part to CEO Gary Black’s efforts, but there are still reasons for investors to be cautious
Named for a two-headed Roman god, Janus Capital Group (JNS ) may have done an about-face. Investors poured $2 billion into the Denver-basedasset manager’s products in 2005, after $20.6 billion in outflows a year earlier. Fourth-quarter profits rose. And analysts are widely touting the return of growth stocks, the company’sbread-and-butter investing style (see BW, 12/29/05, “All Aboard the Growth Train”). On a recent conference call, Janus Chief Executive Gary Blackdeclared: “We’ve got a lot of momentum as we begin 2006.”
