Janus Capital Group said Monday that it would once again let new investors buy into its Janus Overseas Fund.
The Denver mutual fund firm closed the fund to new investors in April 1998, when assets totaled about $4 billion. It went on to enjoy a stellar performance in 1999, at one point reaching assets of about $9 billion, according to mutual fund research firm Morningstar.
But the fund, which invests in large, international firms, suffered big losses during the bear market. The fund gained 18.7 percent in the quarter ended Monday, but it’s still down 20.7 percent for the past three years.
Assets under management total about $3 billion.
The fund is being managed by Brent Lynn, who co-managed the fund with longtime money manager Helen Young Hayes until her retirement earlier this year.
The Janus Overseas Fund is one of several Janus funds that have recently reopened to new investors, including its flagship Janus Fund and the Janus Worldwide Fund.
