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.
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
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