(by G.Finn)

Janus Capital Management is definitely eager to get more individual retirement account (IRA) rollovers as the assets for the IRA rollover market are predicted to contain trillions of dollars. Russ Shipman, Janus VP and a director of defined contribution allocation services, noted that the company targets its 401(k) clients and have talks with mediators on it. He also added that they are going to promote a theme of consistency between the 401(k) plan and the IRA. Mediators are assured that the fund line-ups for both are the same. Its assets dropped to the lowest point since 1999, the company announced last week. Its total assets slid 4.7% in July to $129 billion.

The Vanguard Group closed its International Explorer Fund to new accounts in order to protect long-term investors, it said. This is the fifth fund closed within the past eight months. This step is mainly targeted at reducing speculative and short-term cash flow into the fund. Shareholders still have the chance to make additional purchases, it added.