Brexit FAQs

Do you have a Brexit project underway?

Janus Henderson Investors has a well-established project underway looking at all possible Brexit impacts including distribution, regulatory permissions and licenses, HR, IT and operations. Janus Henderson Investors is seeking to minimise the potential impact on investors, and like all firms, is operating in an environment that is uncertain and subject to change. The project team are actively involved in discussions with regulators, industry groups and clients to remain abreast of developments that may impact on our preparations.

The project team is supported by a number of law firms in the UK and across multiple European countries.

We have a long history in both the UK and continental Europe, and the build out of our existing office in Luxembourg is complete. We are well placed to continue to support our clients globally after Brexit.

Will you be launching any new product lines or make structural changes to products?

We have a long history in both the UK and continental Europe, and the build out of our existing office in Luxembourg is complete. We are well placed to continue to support our clients globally after Brexit.

Our approach has been to avoid structural changes to products so we are making a small number of clarifications to fund objectives to ensure that where UK assets are currently eligible assets, they continue to be so.

Will you be switching EU investors in UK funds to Luxembourg or Irish domiciled funds?

The majority of our EU investors are already invested in our Luxembourg or Irish fund ranges.

At the present time, we do not have any plans to move EU clients who have chosen to invest in a UK domiciled fund as there is currently no reason to do so.

We understand that Brexit should not affect the ability of existing investors to continue to hold their investments, although we are monitoring whether Janus Henderson will be able to continue to market them into the EU.

If you have any concerns about your investment in a Janus Henderson fund, please contact your relationship manager or email us at sales.support@janushenderson.com .

Will you be switching UK investors in Luxembourg or Irish domiciled funds to a UK fund?

The majority of our UK investors are already invested in our UK funds. At the present time, we do not have any plans to move UK clients who have chosen to invest in an EU domiciled fund as there is no reason to do so.

We intend to register our EU funds which are marketed into the UK under the FCA’s Temporary Permissions Regime which will allow us to continue to market them on the same basis as we do today.

If you have any concerns about your investment in a Janus Henderson fund, please contact your sales relationship manager or email us at sales.support@janushenderson.com .

Do you intend to transfer or terminate any distribution agreements between your UK distributor and EU distributors?

We have no plans to transfer or terminate our wholesale distribution agreements.

Will you be changing service providers (such as the Transfer Agent or Depositary) for the funds?

No. The existing service providers to the EU funds are based in the EU, and the service providers to the UK funds are based in the UK.

Will you be setting up an office/Management Company in a new EU location or intend on making an existing EU office more prominent? If so, which locations?

No. Janus Henderson Investors has operated offices in continental Europe for some time; we have offices in Luxembourg, Germany, France, Spain, Italy and The Netherlands.

We have expanded our existing office in Luxembourg to provide additional oversight of our activities in continental Europe. We have recruited additional headcount in areas such as investment management, fund operations, compliance, risk management and distribution oversight.

Will you be moving investment management of your mutual funds from the UK to the EU?

The management company of the Luxembourg funds, currently delegates investment management to Henderson Global Investors Limited, a UK MiFID investment firm. Our understanding is that delegation may continue after Brexit once suitable bi-lateral arrangements are in place between Luxembourg and the UK.

The Irish Investment Company currently delegates investment management to Janus Capital International Limited, a UK MiFID investment firm. Our understanding is that delegation will continue after Brexit, and regulators are gearing up to ensure suitable bi-lateral arrangements are in place between Ireland and in the UK.

For our UK funds no changes are necessary as they are UK domiciled funds with a UK investment manager.

How will Brexit impact your operating model for trading, custody, derivatives management, or back office functions (including outsourced service providers)?

We are fully engaged with various parties from brokers, benchmark providers, clearing counterparties, MTFs (Multilateral Trading Facilities) and third party administrators. To date we have identified no anticipated changes to executing entities, no requirements to repaper agreements and no increased costs. With regards Benchmarks and MTFs there is no anticipated impact based on dialogue with providers, although JHI continue to monitor the position.

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