Assets of the 231 retail tax-exempt funds decreased $859.6 million, to $82.62 billion.
But he also talks about possibly converting Lens into a retail mutual fund.
"The credit should go back to the employee who invested in the retail fund," he said.
The more than 60 retail mutual funds had approximately $60 billion in assets under management as of June 30, 2005.
Assets of the 231 retail tax-exempt funds increased $597.7 million, to $78.09 billion.
"Some companies are starting to question whether it makes sense to offer fully priced retail mutual funds to their employees," he said.
"It's a retail fund, and you can't find the name Shearson anywhere," said one.
The assets of the 230 retail tax-exempt funds increased $647.9 million, to $81.73 billion.
Total assets in retail mutual funds at Janus more than doubled last year, to $172 billion.
Since the securities were first offered, a little more than a year ago, only three retail funds specializing in them have been introduced.