Janus Capital Group Inc.’s Scott Schoelzel, manager of the $10.4 billion Janus Twenty Fund, plans to step down after 10 years of producing higher returns than the U.S. stock market and 90 percent of his peers.
Schoelzel, 49, who also oversees the Janus Adviser Forty Fund and the Janus Aspen Forty Portfolio, will leave at the end of the year, Denver-based Janus said Wednesday in a statement.
Ron Sachs, 40, manager of the Janus Orion Fund, will take over the funds.
Janus has rebounded from subpar investment returns that sent investors fleeing its funds after the Internet bubble burst in 2000.
In the second quarter, it posted net deposits into its retail mutual funds for the first time in six years.
Janus shares have climbed 27 percent this year, compared with a 3.2 percent gain by the Standard & Poor’s 500 Index.
Janus Twenty has advanced 9 percent this year to beat 97 percent of its rivals that invest in large-company stocks, data compiled by Bloomberg show.
The fund, which limits investments to between 20 and 30 stocks, has the highest rating of five stars from research firm Morningstar Inc. in Chicago.
It has returned 7.9 percent a year since 1997, compared with 1.9 percent for the S&P 500, according to Morningstar.
“Scott has a great reputation, and I’m going to continue to invest with conviction,” Sachs said Wednesday. “Like Scott, I’m very comfortable running a concentrated portfolio.”
Sachs has managed the $3.9 billion Janus Orion Fund since 2000.
The fund has advanced 16 percent this year to beat 98 percent of rival funds that invest in growth-oriented stocks of all sizes.
Schoelzel took over the management of the Janus Twenty Fund 10 years ago from industry veteran Thomas Marsico, who left to start his own money- management company.
He will take time off before deciding what to do next, Janus spokeswoman Shelley Peterson said.
Schoelzel was not available for comment, she said.
