8 star managers who flew the coop

7 of 8

Sandy Rufenacht

Previous Gig: Yet another Janus refugee, Sandy Rufenacht launched the Janus High Yield Bond Fund in 1996. By the time he left in 2003, the fund had $3 billion in assets and had never posted an annual loss.

Why he split: Rufenacht saw an opportunity for a boutique high yield shop. "I felt like most firms were too big, and in this asset class you need to stay small and nimble," he says. "We're a tightly knit group -- what Janus was in the early days."

Today: Three Peaks Capital Management--so named because Rufenacht can see three Rocky Mountain-tops from his office -- currently manages about $900 million. Rufenacht also heads the Aquila Three Peaks High Income (ATPAX) fund, which finished near the bottom of its category last year but landed in the top 5% in 2008.

NEXT: David Marcus