Janus Capital Group Inc. (NYSE: JNS) today announced that Janus Adviser Long/Short
Fund (JSLSX) has surpassed its initial capital threshold goal of $50 million in assets under
management. The fund, which is sold though financial intermediaries and to certain institutional
investors, was introduced to investors in August 2006 as Janus’ first alternative asset product. Janus
Adviser Long/Short Fund is co-managed by David Decker, Dan Kozlowski and Dan Riff, each of
whom has responsibility for a specific portion of the portfolio.
According to David Decker, the ability to utilize both long and short instruments aims to provide
clients with access to the full articulation of Janus’ deep fundamental research. “We’re looking for
businesses where we see a strong disconnect between the intrinsic value of the company and its
current share price,” said Decker.
Janus Adviser Long/Short Fund seeks to identify and capitalize on both undervalued (long) and
overvalued (short) securities from around the world with the goal of providing strong, risk-adjusted
absolute returns over a full market cycle. The fund does not aim to be market neutral and will
normally hold a higher percentage of its assets in long positions than short positions.
The fund’s long positions are typically comprised of companies that portfolio management believes
have the ability to produce returns on invested capital in excess of their cost of capital, enabling them
to generate sustainable free cash flow. These companies will generally reside in large, stable, value-
creating industries with above-average growth potential. The fund’s short sales are typically
comprised of companies that the portfolio management team feels are structurally disadvantaged,
operate in challenged industries and have high valuations.
David Decker is a CFA charterholder and has 17 years of professional investment experience.
He also serves as portfolio manager of Janus Contrarian Fund, Janus Adviser Contrarian Fund and the
Opportunistic Alpha institutional portfolios. Prior to joining Janus in August 1992, he was a credit
analyst at NationsBank. Mr. Decker graduated cum laude from Tufts University with a bachelor’s
degree in economics and political science and obtained an M.B.A. in finance from the Fuqua School
of Business at Duke University.
Dan Kozlowski is a CFA charterholder and has 8 years of professional investment experience. He
also serves as a global equity research analyst, concentrating his efforts on the financial, retail and
media sectors. Prior to joining Janus in 1999, he founded, managed, and sold a start-up venture in
addition to working at Arthur Andersen, LLP and Ariel Capital Management. Mr. Kozlowski
graduated cum laude with a bachelor’s degree in business administration from the University of
Miami. He also earned an M.B.A. with concentrations in finance and accounting from the University
of Chicago, and has studied at Sophia University’s School of Comparative Culture in Tokyo, Japan.
Dan Riff has 5 years of professional investment experience. He also serves as an equity research
analyst covering consumer staples, healthcare, and industrial firms. Prior to joining Janus in May
2003, he was a strategy consultant focused on growth and innovation, working in Boston, London
and Johannesburg with consumer products, financial services and healthcare firms. Mr. Riff also led
sales, marketing, finance and operations teams for venture-funded start-ups focused on computer
animation, software and business information. He graduated magna cum laude with a bachelor’s
degree in economics from Williams College and completed the M.B.A. program in finance from The
Wharton School at the University of Pennsylvania.
For additional information on Janus Adviser Long/Short Fund, please visit www.janusintech.com.
About Janus Capital Group Inc.
Founded in 1969, Denver-based Janus Capital Group Inc. (Janus) is a recognized leader of growth
and risk-managed investment strategies. Our commitment to deliver for investors is rooted in our
research-intensive approach and relentless passion to gain a competitive edge.
At the end of December 2006, Janus managed $167.7 billion in assets for more than four million
shareholders, clients and institutions around the globe. Outside the U.S., Janus has offices in London,
Tokyo and Hong Kong. Janus Capital Group consists of Janus Capital Management LLC, Enhanced
Investment Technologies, LLC (INTECH) and Capital Group Partners, Inc. (doing business as Rapid
Solutions Group). In addition, Janus Capital Group owns 30% of Perkins, Wolf, McDonnell and
Company, LLC.
 
Edited by:
Erin Kello
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