DENVER - Janus Capital Corp. is beefing up its wholesaling force to boost sales of its institutional mutual funds through financial intermediaries such as bank trust departments.
The bulk of Janus' business through banks has been in defined-contribution products, said Lars Soderberg, vice president and director of institutional services. On Aug. 1, Janus will begin accepting assets that are not tax-exempt. Additional manpower is needed to fuel that initiative, he said.
The fund company plans to add three or four field wholesalers to the six on staff, he said. As of May 31, Janus had about $280 billion of assets under management, about half of which is institutional money, he said.