Janus Capital Corporation, the US mutual fund provider, has opened an office in Hong Kong and is promoting 10 offshore funds through financial intermediaries. The funds are modeled closely on similar US offerings.
So far, the most popular have been the Janus Twenty Fund, a concentrated portfolio that owns 20 to 30 companies, the Janus Global Life Sciences Fund, which invests in medical and biotechnology stocks, and the Janus Global Technology Fund.
A Janus spokeswoman said that despite the slump in the value of technology stocks in recent months, Janus's funds have good long-term track records and the company has a commitment to thoroughly researching stocks before they are selected. She said: 'We still believe in the companies in which we invest, and the rubber-band effect, which is when the market stops penalising every company across a sector, the ones we have chosen will snap back faster than the rest.'
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