Active Global High Yield from Capital Structure Experts

A high yield fund that actively seeks to generate competitive risk-adjusted returns, principally
through strong security selection combined with a focus on top-down beta management. The fund
adopts an ESG focused, research-first mentality on both macro and security selection risks.

Why Invest in the Fund?

Repeatable, Active Approach

Active management of beta and portfolio composition throughout the credit cycle. Categorisation of risk and return characteristics of each security in portfolios.

Research Driven

Analysts cover issuers across the full capital structure and are ESG focused, ensuring a complete picture of fundamentals. Co-ownership of risk exists between portfolio managers and analysts.

Globally Aligned

One team across two investment centres with co-portfolio managers in London and Denver. Integrated global research team, pursuing the best global risk-adjusted return opportunities.

Robust Risk Management

Minimise downside risk and emotional bias through a stop-loss process.
Utilisation of off benchmark sectors to diversify portfolio risk.

  Distribution Yield: 3.80%*

Fund Facts

Structure

SICAV

Inception date

19 November 2013

AUM

$1.23b (as at 31 May 2022)

Benchmark

ICE BofA Global High Yield Constrained Index (100% Hedged)

Performance target

To outperform the ICE BofAML Global High Yield Constrained Index (100% Hedged) by 1.75% per annum, before the deduction of charges, over any 5 year period.

Sector

Morningstar Global High Yield Bond

High yield exposure

Minimum 80%

Typical number of issuers

125 – 200

Typical position size

0.5% – 3%

Sector and country limits

None

Base currency

USD. No FX exposure.

Role in a Diversified Portfolio

Portfolio position

Diversifying fixed income:
High yield exposure

Portfolio implementation

Complement traditional fixed income strategies

What this offers
investors

■ Targets high, current income
■ Repeatable, active approach
■ Experienced team

Transparent, Risk-Controlled and Repeatable Process

Calendar Year Performance

YTD
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
PERFORMANCE INCEPTION
A3q USD (Net)
-5.79 0.42 6.17 18.02 -2.21 8.42 14.40 -2.30
ICE BofA ML Global High Yield Constrained USD Hdg
-5.50 3.04 6.48 14.54 -1.90 7.99 16.21 -3.50

 

YTD
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
PERFORMANCE INCEPTION
A3q USD (Gross)
-5.52 1.61 7.44 19.42 -1.07 9.71 15.79 -2.09
ICE BofA ML Global High Yield Constrained USD Hdg + 1.75%
-5.09 4.84 8.34 16.54 -0.16 9.85 18.25 -3.18

Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.Performance/performance target related data will display only when relevant to the fund/share class inception date and the annualised target time period.© Morningstar 2022. All rights reserved. NAV-NAV, gross income reinvested where applicable.Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time. Please note the performance target is to be achieved over a specific annualised time period. Refer to the performance target wording within the objective.

Cumulative and Annualised Performance

 CUMULATIVE
ANNUALISED
1MO
YTD
1YR
3YR
5YR
10YR
SINCE INCEPTION

23/10/2015

A3q USD (Net)
-1.38 -10.03 -11.03 1.54 2.70 4.55
ICE BofA ML Global High Yield Constrained USD Hdg
-0.35 -8.82 -8.09 2.22 2.96 4.78

 

ANNUALISED
3YR
5YR
10YR
SINCE INCEPTION

23/10/2015

A3q USD (Gross)
3.91 5.79
ICE BofA ML Global High Yield Constrained USD Hdg +1.75%
4.76 6.61

Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations. Performance/performance target related data will display only when relevant to the fund/share class inception date and the annualised target time period. © Morningstar 2022. All rights reserved. NAV-NAV, gross income reinvested where applicable. Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.

The performance metrics shown above are as of end of May 2022 and refer to the Share Class-A3q USD (ISIN: LU1280371284)

Portfolio Management

Jesmond Mizzi Financial Advisors Limited is the local representative of Janus Henderson Investors in Malta.

Formed in 2017 from the merger between Janus Capital Group and Henderson Group, the company is committed to adding value through active management. For Janus Henderson, active is more than just an investment approach – it is the way ideas are translated into action, how it communicates its views and the partnerships that are built in order to create the best outcomes for clients.

 

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Documentation

FACT SHEET (EUR) FACT SHEET (USD)

      KIID (EUR)               KIID (USD)     

    PROSPECTUS    

ADDITIONAL DOCUMENTS (EUR)

ADDITIONAL DOCUMENTS (USD)

Find out how we can help harness the best risk-adjusted opportunities to create a diverse portfolio of high yielding bonds.

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    *Morningstar Rating™ and Distribution yield as at 31 March 2022 and refers to A3q USD share class, (ISIN LU1280371284). The distribution yield reflects the amounts that may be expected to be distributed over the next 12 months as a percentage of the midmarket share price of the fund and the date shown. Other share classes available. Marketing communication. Investments can fall as well as rise and you may not get back the amount originally invested. Figures quoted refer to the past and that past performance does not predict future returns. This product may be affected by changes in currency exchange rates. Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations. Taxes and upfront fees are not taken into account. Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time. For further explanation of charges please visit our Fund Charges page at www.janushenderson.com. Nothing in this advert should be construed as advice. This is not a recommendation to sell or purchase any investment. Please read all scheme documents before investing. The Janus Henderson Horizon Fund (the “Fund”) is a Luxembourg SICAV incorporated on 30 May 1985, manufactured and managed by Henderson Management S.A. The fund may invest in investments that entail higher risk than other types of investments. The Fund is marketed in Malta in terms of the UCITS Directive. Investment should be based upon the details contained in the Prospectus and the Key Investor Information Document, both of which may be obtained in English from Jesmond Mizzi Financial Advisors Ltd, the local representative in Malta and distributor of the Fund.

    This advert is issued by Jesmond Mizzi Financial Advisors Ltd (IS30176) of 67, Level 3, South Street, Valletta VLT1105, Malta licensed to conduct investment services business under the Investment Services Act by the MFSA, Mdina Road, Zone 1, Central Business District, B’Kara CBD 1010, Malta, and is a member rm of the Malta Stock Exchange, Garrison Chapel, Castille Place, Valletta VLT 1063, Malta. Issued in Europe by Janus Henderson Investors. Janus Henderson Investors is the name under which investment products and services are provided by Henderson Management S.A. (reg no. B22848 at 2 Rue de Bilbourg, L-1273, Luxembourg and regulated by the Commission de Surveillance du Secteur Financier). Janus Henderson is a trademark of Janus Henderson Group plc or one of its subsidiaries. © Janus Henderson Group plc. A commission may be charged by the distributor at the time of the initial purchase for an investment and may be deducted from the invested amount therefore lowering the size of your investment. © 2021 Morningstar. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not predict future returns. CCAT2201/0621