Shares of Janus Capital (JNS) got hit hard last month when two of its largest equity funds were yanked from a Bank of America Merrill Lynch portfolio.
It was a big blow to the Denver-based money management firm, which has been struggling to reverse almost two years of asset outflows. Money management firms like Janus earn a bulk of their revenue from fees based on assets under management. So having funds included in portfolios of major brokerage firms no doubt boosts overall fund flows.
With shares down nearly 30% year-to-date, the stock is relatively cheap -- it trades less than 10 times earnings estimates for the year. A majority of analysts have assigned a 'hold' rating on the stock.
It's been a roller-coaster ride for stocks this year, but for some members of the S&P 500, it's been nothing but up. From healthcare to media, here are the 10 best-performing stocks so far in 2011. More
|Don't fight it. Bitcoin has a bright future|
|"The Hobbit" dispute sparks lawsuit|
|China's bad debt breaks Hong Kong IPO logjam|
|Five things you didn't know about Bernie Madoff's epic scam|
|Teen millionaire helping Yahoo become cool again|