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Top manager leaves Janus
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August 13, 1997: 12:25 p.m. ET
Thomas Marsico resigns as portfolio manager of two top mutual funds
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NEW YORK (CNNfn) - Thomas Marsico has stepped down as portfolio manager and investment adviser with Janus Capital Corp., one of the nation's largest mutual fund companies.
The company noted the change in documents filed with the Securities and Exchange Commission on Tuesday.
Marsico was manager of more than $7 billion in assets through the Janus Twenty Fund and Janus Growth and Income Fund. He also co-managed the Janus Venture Fund.
Under his 11-year tenure, Janus mutual funds ranked among the industry's top performers. In 1991, Janus Twenty recorded a return of 69 percent, more than double the S&P 500 index -- a standard barometer for the industry.
However, his resignation came as a result of "philosophical differences" with the company. Marsico couldn't be reached for comment.
Janus said it has appointed Scott Schoelzel, the manager of Janus Olympus, as the new portfolio manager of Janus Twenty. Claire Young replaces Schoelzel at Olympus.
Meanwhile, David Corkins has been appointed manager of Janus Growth and Income. Corkins most recently was assistant portfolio manager for the Janus Mercury Fund.
Janus is 80-percent owned by Kansas City Southern Industries Inc., which also owns Berger Associates.
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