Janus Capital Group
Corporate brand
UnclaimedJanus Capital Group was a U.S.-based investment-management company that operated the Janus fund franchise and merged with Henderson Group in 2017 to form Janus Henderson.
Last updated August 22, 2026
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Overview
Janus Capital Group, Inc. was an American investment-management company headquartered in Denver, Colorado. Its origins dated to 1969, when Thomas H. Bailey founded the business as Stilwell Financial Incorporated. The company established the Janus fund franchise with the opening of the Janus Fund in 1970, initially managing several hundred thousand dollars. Over time, it developed a broad range of mutual-fund and investment products spanning U.S. equities, small-cap companies, concentrated portfolios, international and global equities, mid-cap stocks, fixed income, exchange-traded funds, and insurance-linked or retirement-oriented investment vehicles. The business expanded through a series of corporate reorganizations. Kansas City Southern Industries acquired a controlling interest in 1984. In 1999, Kansas City Southern Industries separated its financial-services operations into Stilwell Financial. Stilwell subsequently integrated Janus Capital Corporation into the parent company, and the combined organization adopted the Janus Capital Group name in January 2003. Thomas H. Bailey stepped down as president and chief executive officer in June 2002. Janus broadened its product range during the 1980s and 1990s. In 1985 it introduced the Janus Venture Fund, its first small-cap equity fund, and the Janus Twenty Fund, its first concentrated-equity fund. In 1991 it added the Janus Worldwide Fund, Janus Overseas Fund, and Janus Enterprise Fund, representing global equity, international equity, and mid-cap investment strategies respectively. The same period also saw the creation of the Janus Aspen Series, designed for access through variable insurance contracts and certain qualified retirement plans. The company later increased its emphasis on specialist investment talent, alternative distribution channels, acquisitions, and exchange-traded products. Nobel laureate Myron Scholes joined Janus as chief investment strategist in 2014. That year, former PIMCO portfolio manager Bill Gross joined the firm to manage its global unconstrained bond strategy. Janus acquired VS Holdings and its VelocityShares business in October 2014, giving it an ETF-focused platform. In July 2015, it acquired a majority interest in Kapstream Capital, a fixed-income investment specialist. Janus also launched small-cap growth and small-cap/mid-cap growth ETFs in February 2016, followed by four thematic ETFs in June covering long-term care, health and fitness, organic foods, and personal care. Janus Capital Group remained an international investment-management organization with offices outside the United States in cities including Sydney, Paris, Zurich, Frankfurt, Dubai, Taipei, London, Milan, Tokyo, Hong Kong, Melbourne, and Singapore. Its corporate life ended as an independent company when Janus Capital Group and Henderson Group plc announced a merger on October 3, 2016. The transaction was completed in May 2017, creating Janus Henderson. Janus Capital Group is therefore best understood as a predecessor corporate brand and investment platform rather than an active standalone company.
History
Janus Capital Group developed from an investment business founded by Thomas H. Bailey in 1969 under the name Stilwell Financial Incorporated. Its first major investment product, the Janus Fund, opened in 1970 with several hundred thousand dollars in assets. The fund became the foundation of a broader Janus product family and established the firm's identity in active investment management. The company changed ownership and corporate structure several times. Kansas City Southern Industries purchased a controlling interest in 1984. In 1999, Kansas City Southern Industries separated its financial-services businesses into Stilwell Financial. Stilwell later integrated Janus Capital Corporation into the parent organization. Following that integration, the parent adopted the Janus Capital Group name in January 2003. Bailey, who had founded the business and served as its president and chief executive, left those leadership roles in June 2002. Product development was an important part of Janus's expansion. In 1985, the firm introduced the Janus Venture Fund, its first small-cap equity fund, and the Janus Twenty Fund, its first concentrated-equity fund. In 1991, it launched the Janus Worldwide Fund, Janus Overseas Fund, and Janus Enterprise Fund. These products extended the platform into global equity, international equity, and mid-cap investing. Janus also created the Janus Aspen Series for investors accessing the firm's strategies through variable insurance contracts and certain qualified retirement plans. During the 2010s, Janus added prominent investment professionals and expanded through acquisitions. Myron Scholes joined as chief investment strategist in July 2014. In September of that year, Bill Gross left PIMCO for Janus, where he became manager of the global unconstrained bond strategy. Janus acquired VS Holdings and its VelocityShares business in October 2014, strengthening its presence in exchange-traded products. In July 2015, it acquired a majority interest in Kapstream Capital, a fixed-income specialist. Janus also entered additional ETF categories. In February 2016 it launched small-cap growth and small-cap/mid-cap growth ETFs. In June 2016 it followed with four thematic ETFs focused on long-term care, health and fitness, organic foods, and personal care. These developments complemented its older mutual-fund, institutional, insurance, and retirement offerings. Janus operated internationally, maintaining offices in numerous financial centers across North America, Europe, Asia, Australia, and the Middle East. Its final major corporate turning point came on October 3, 2016, when Janus Capital Group and Henderson Group plc announced their merger. The transaction was completed in May 2017, creating Janus Henderson. Janus Capital Group consequently became a predecessor organization and brand within the combined investment-management group.
- 2017
Merger creates Janus Henderson
[1]The merger with Henderson Group was completed in May, creating Janus Henderson.
- 2016
Janus expands ETF range
[1]The company launched small-cap growth and small-cap/mid-cap growth ETFs, followed by four thematic ETFs.
- 2015
Kapstream majority interest acquired
[1]Janus acquired a majority interest in fixed-income specialist Kapstream Capital.
- 2014
Scholes and Gross join Janus
[1]Myron Scholes became chief investment strategist, while Bill Gross joined to manage the global unconstrained bond strategy.
- 2014
VelocityShares business acquired
[1]Janus acquired VS Holdings and its VelocityShares business.
- 2003
Company adopts Janus Capital Group name
[1]The parent company changed its name after integrating Janus Capital Corporation.
- 1999
Stilwell Financial is created
[1]Kansas City Southern Industries separated its financial-services businesses into Stilwell Financial.
- 1991
International and mid-cap product expansion
[1]Janus introduced worldwide, overseas, and enterprise funds and created the Janus Aspen Series.
- 1985
Small-cap and concentrated-equity funds introduced
[1]Janus launched the Janus Venture Fund and Janus Twenty Fund.
- 1984
Kansas City Southern Industries acquires control
[1]Kansas City Southern Industries purchased a controlling interest in the company.
Products and positioning
Active investment management across equity, fixed-income, global, international, thematic, retirement, and insurance-linked strategies.
Mutual fund · 1970
Janus Fund
The Janus Fund was the firm's foundational investment product. It opened in 1970 with approximately several hundred thousand dollars in assets and served as the starting point for the broader Janus fund franchise.
Small-cap equity fund · 1985
Janus Venture Fund
Introduced in 1985, the Janus Venture Fund was Janus's first small-cap equity fund. Its launch expanded the firm's product range beyond its earlier core offerings into smaller-company investing.
Concentrated equity fund · 1985
Janus Twenty Fund
Also launched in 1985, the Janus Twenty Fund was the firm's first concentrated-equity fund. The product represented Janus's move into a more focused portfolio approach within its active equity range.
Global equity fund · 1991
Janus Worldwide Fund
Launched in 1991, the Janus Worldwide Fund extended the franchise into global equity investing. It was part of a group of products introduced to broaden Janus's geographic investment scope.
International equity fund · 1991
Janus Overseas Fund
The Janus Overseas Fund was introduced in 1991 as the firm's first international equity fund. It complemented the worldwide and domestic strategies in the Janus product lineup.
Mid-cap equity fund · 1991
Janus Enterprise Fund
Launched in 1991, the Janus Enterprise Fund was the company's first mid-cap equity fund. It added a distinct company-size segment to Janus's active equity offerings.
Insurance and retirement investment series · 1991
Janus Aspen Series
The Janus Aspen Series was created for investors seeking Janus strategies through variable insurance contracts and certain qualified retirement plans. It adapted the firm's investment offerings for specialized distribution and account structures.
Exchange-traded products · 2014
VelocityShares
VelocityShares became part of Janus through the 2014 acquisition of VS Holdings. The business gave Janus an exchange-traded product platform alongside its established mutual-fund and institutional investment activities.
Brand decisions
2016
Expand into small-cap and thematic ETFsProduct launchBackground
Janus expanded its exchange-traded product range after adding the VelocityShares business.
Action taken
The company launched small-cap growth and small-cap/mid-cap growth ETFs in February, followed in June by ETFs focused on long-term care, health and fitness, organic foods, and personal care.
Aftermath
The launches broadened Janus's ETF offering across equity-size categories and consumer or demographic investment themes.
2016
Announce merger with Henderson GroupM&ABackground
Janus and Henderson pursued a combination of their investment-management businesses.
Action taken
Janus Capital Group and Henderson Group plc announced their merger on October 3, 2016.
Aftermath
The transaction was completed in May 2017 and created Janus Henderson, replacing Janus Capital Group as the independent corporate organization.
2015
Acquire a majority interest in Kapstream CapitalM&ABackground
Janus pursued additional specialist capabilities in fixed-income investing.
Action taken
The company acquired a majority interest in Kapstream Capital in July 2015.
Aftermath
Kapstream became part of Janus's broader fixed-income investment platform.
2014
Acquire VS Holdings and VelocitySharesM&ABackground
Janus sought to expand beyond its traditional investment-fund platform.
Action taken
The company acquired VS Holdings and its VelocityShares business in October 2014.
Aftermath
Janus added an exchange-traded products business to its investment-management capabilities.
2003
Rebrand the parent as Janus Capital GroupStrategyBackground
Stilwell Financial integrated Janus Capital Corporation into the parent organization.
Action taken
The company adopted the Janus Capital Group name in January 2003.
Aftermath
The Janus name became the identity of the combined corporate investment-management organization.
Sources1 sources
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