Janus Henderson Investors has added two portfolio managers to the $89m Janus Henderson Absolute Return Income Opportunities fund ahead of top bond boss Nick Maroutsos’s planned exit.
Dylan Bourke and Daniel Siluk, both of whom work at Janus subsidiary Kapstream, have come on the fund alongside Jason England, according to a recent filing with the Securities and Exchange Commission.
The new managers will be listed on the fund alongside Nick Maroutsos until he leaves the firm. Maroutsos, Janus Henderson’s head of global bonds, previously disclosed his plans to take a ‘bittersweet’ break from his investment career starting in October.
Siluk also manages the $2.9bn Janus Henderson Short Duration Income ETF. Bourke is not a named manager on any other fund, according to the filing.
Janus Henderson did not immediately respond to a request for comment.
Neuberger drops subadvisor
Neuberger Berman has dropped subadvisor Good Hill Partners from its $77m Neuberger Berman Absolute Return Multi-Manager fund.
The decision to part ways with Greenwich, Conn.-based Good Hill, effective Friday, comes after Neuberger disclosed that it had ended the fund’s exposure to asset-backed securities.
That allocation had been assigned to Good Hill, one of seven subadvising firms on the fund. Good Hill’s allocation stood at 11.7% earlier this year, according to Neuberger Berman’s website.
The fund’s management comprises David Kupperman, Jeff Majit and Fred Ingham. In a May manager’s note, the decision is mentioned but not explained in detail.
‘We have liquidated the fund’s allocation to asset-backed securities,’ the note says.
Neuberger Berman’s own allocation on the fund remains at 14.9%, up 0.1% from before the liquidation. The recent note shows more noticeable increases to the fund’s other subadvisors — BH-DG (managed futures); Cramer Rosenthal McGlynn (global equity long/short); Neuberger Berman Investment Advisers (global equity long/short with concentration in financials); P/E Global (global macro); Portland Hill Capital (European event driven and equity long/short) and GAMCO Asset Management (merger arbitrage), which has the largest single allocation at 22.4%.
Neuberger Berman and Good Hill did not immediately respond to a request for comment.
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June 18, 2021 at 11:11PM
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Fund Files: Janus adds PMs, Neuberger drops subadvisor - Citywire USA
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