Products May 30, 2008

New International Fund Sets Sail at Janus

Janus Capital Group Inc. launched a new international fund.
Reported by

The Janus Adviser International Forty Fund (ticker: JFFAX) is a concentrated portfolio that seeks long-term growth of capital by investing directly in 30 to 50 companies across developed and emerging markets.

According to a press release, the fund manager plans to “…leverage Janus’ proprietary research process in an attempt to identify and capitalize on international firms with attractive long-term growth prospects and strong and sustainable competitive advantages.” The fund’s benchmark is the Morgan Stanley Capital International (MSCI) All Country World ex-U.S. Index.

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“By concentrating the fund’s investments in a limited number of holdings, we think our most compelling stock picks could possibly make more meaningful contributions to the fund’s overall returns,” Jonathan Coleman, co-chief investment officer of Janus, said.

Portfolio Manager Laurent Saltiel will manage Janus Adviser International Forty Fund. Saltiel, who also comanages Janus
Adviser International Equity Fund, joined Janus in 2002 as an equity analyst covering basic material, consumer staple and retail securities. Prior to that, he was an analyst with RS Investments in San Francisco.

“I look for businesses with high or improving returns on invested capital, solid free cash flow generation and management teams that create value for shareholders,’ Saltiel said. “A strong valuation discipline is a fundamental part of my investment strategy. I believe this approach will help ensure that the fund invests only in stocks that I feel offer the most attractive risk/reward opportunities.’

Deals & People May 30, 2008

Pacific Life Names Morris Chairman of Board

James T. Morris, president and CEO of Pacific Life Insurance Company, will now serve as chairman of the board for both parent companies of Pacific Life.
Reported by

The election to chairman of both the Pacific Mutual Holding Company and Pacific LifeCorp boards is effective immediately.
As chairman, Morris succeeds Thomas C. Sutton, who has served as chairman of the board since 1990. Sutton retired as CEO of Pacific Life in April 2007, ending a 43-year career with the company. He will remain as a director of both Pacific Mutual Holding Company and Pacific LifeCorp’s boards.

“Tom Sutton has been an invaluable mentor to me and he will continue to be a valuable resource as a board member,’ Morris said.

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Morris joined Pacific Life as an assistant actuary following his 1982 graduation from the University of California, Los Angeles. After holding a number of significant positions in a variety of areas, he was promoted to executive vice president of the Life Insurance Division in 2002. In 2005, Morris was elevated to executive vice president and chief insurance officer and in 2006, assumed the role of chief operating officer. In April 2007, following Sutton’s retirement, Morris was named president and CEO of Pacific Life.

“Jim Morris has a 26 year history with Pacific Life,’ said Sutton. “During this time, he has increasingly been involved and responsible for the growth of the company. The directors of our boards are impressed with Jim’s leadership style and business acumen and this appointment reflects our complete confidence in his ability to lead Pacific Life and its family of companies.’

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