Please ensure Javascript is enabled for purposes of website accessibility Horizon Responsible Resources Fund - Janus Henderson Investors
For financial professionals in Belgium

Horizon Responsible Resources Fund

A high-conviction natural resources fund targeting high-quality global equity opportunities

ISIN
LU1120392870

NAV
USD 143.12
As of 17/04/2024

1-Day Change
USD 3.48 (2.49%)
 As of 17/04/2024

Overview

INVESTMENT OBJECTIVE

The Fund aims to provide capital growth over the long term.
Performance target: To outperform the S&P Global Natural Resources Index by 2.5% per annum, before the deduction of charges, over any 5 year period.

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The Fund invests at least 80% of its assets in shares (equities) and equity-related securities of companies, whose revenues come mostly from the natural resources sector, such as, but not limited to, the mining, energy and agriculture sectors. The Fund may invest in companies of any size, in any country.
The Fund may also invest in other assets including cash and money market instruments.
The Investment Manager may use derivatives (complex financial instruments) to reduce risk or to manage the Fund more efficiently.
The Fund is actively managed with reference to the S&P Global Natural Resources Index, which is broadly representative of the companies in which it may invest, as this forms the basis of the Fund's performance target and the level above which performance fees may be charged (if applicable). The Investment Manager has discretion to choose investments for the Fund with weightings different to the index or not in the index, but at times the Fund may hold investments similar to the index.

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The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.
Potential investors must read the prospectus, and where relevant, the key investor information document before investing.
This website is a Marketing Communication and does not qualify as an investment recommendation.

ABOUT THIS FUND

  • Invests in mining, energy, and agriculture companies set to benefit from the ongoing demand for natural resources
  • Flexibility to invest across the supply chain, taking advantage of price shifts between upstream and downstream sectors and across industries
  • Highly experienced specialist team utilises expertise to identify ‘sweet spots’ ahead of stock price appreciation
Past performance does not predict future returns. 
 

PORTFOLIO MANAGEMENT

Tal Lomnitzer, CFA

Tal Lomnitzer, CFA

Senior Investment Manager

Industry since 2000. Joined Firm in 2019.

Performance

Past performance does not predict future returns. All performance data includes both income and capital gains or losses and reflects the deduction of any ongoing charges or other fund expenses.
Cumulative & Annualised Performance (%)
As of 31/03/2024
A2 USD (Net) S&P Global Natural Resources NR
  
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
28/01/2015
A2 USD (Net) 7.07 1.40 4.52 2.94 5.93 - 3.75
S&P Global Natural Resources NR 8.24 2.01 5.03 8.81 8.31 - 6.55
 
  Annualised
3YR 5YR 10YR Since Inception
28/01/2015
A2 USD (Gross) - 8.01 - 5.88
S&P Global Natural Resources NR + 2.50% - 11.02 - 9.22
From 25 February 2022, the Fund name changed.
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 fees are charged separately as a way of rewarding the investment manager for superior returns or for outperforming specified targets. A Performance Fee is accrued where the NAV outperforms the relevant Hurdle NAV (subject to a High Water Mark).
Performance/performance target related data will display only when relevant to the fund/share class inception date and the annualised target time period.
Performance fees may be charged before the Fund’s outperformance target is reached.
© Morningstar 2024. 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.
Calendar Year Returns (%)
As of 31/03/2024
A2 USD (Net) S&P Global Natural Resources NR
YTD 2023 2022 2021 2020 2019 2018 2017 2016 PERFORMANCE INCEPTION
28/01/2015
A2 USD (Net) 1.40 2.45 -10.53 20.59 15.33 15.48 -22.10 21.37 30.91 -24.14
S&P Global Natural Resources NR 2.01 3.38 9.59 24.40 -0.05 16.41 -13.08 21.99 31.45 -23.22
From 25 February 2022, the Fund name changed.
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 fees are charged separately as a way of rewarding the investment manager for superior returns or for outperforming specified targets. A Performance Fee is accrued where the NAV outperforms the relevant Hurdle NAV (subject to a High Water Mark).
Performance/performance target related data will display only when relevant to the fund/share class inception date and the annualised target time period.
Performance fees may be charged before the Fund’s outperformance target is reached.
© Morningstar 2024. 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.
FEE INFORMATION
Initial Charge 5.00%
Annual Charge 1.20%
Ongoing Charge
(As of 30/06/2023) 		1.93%
Performance Fee 10% of the 'Relevant Amount'
Hurdle Rate S&P Global Natural Resources Index
For more information about charges, please see our fund charges page or the “charges” section of the fund’s prospectus.

Portfolio

Top Holdings (As of 31/03/2024)
% of Fund
Wheaton Precious Metals 5.25
Nexans 4.56
Freeport-McMoRan 4.37
Cameco 4.10
UPM-Kymmene 3.70
Capstone Copper 3.56
Linde 3.54
Weyerhaeuser 3.36
Ivanhoe Mines 3.23
West Fraser Timber 3.19
References made to individual securities do not constitute a recommendation to buy, sell or hold any security, investment strategy or market sector, and should not be assumed to be profitable. Janus Henderson Investors, its affiliated advisor, or its employees, may have a position in the securities mentioned.

Documents

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  • The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • Past performance does not predict future returns.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • Shares/Units can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
  • Shares of small and mid-size companies can be more volatile than shares of larger companies, and at times it may be difficult to value or to sell shares at desired times and prices, increasing the risk of losses.
  • The Fund is focused towards particular industries or investment themes and may be heavily impacted by factors such as changes in government regulation, increased price competition, technological advancements and other adverse events.
  • The Fund follows a responsible investment approach, which may cause it to be underweight in certain sectors (due to the avoidance criteria employed) and thus perform differently than funds that have a similar financial objective but which do not apply any avoidance criteria when selecting investments.
  • The Fund may use derivatives with the aim of reducing risk or managing the portfolio more efficiently. However this introduces other risks, in particular, that a derivative counterparty may not meet its contractual obligations.
  • If the Fund holds assets in currencies other than the base currency of the Fund, or you invest in a share/unit class of a different currency to the Fund (unless hedged, i.e. mitigated by taking an offsetting position in a related security), the value of your investment may be impacted by changes in exchange rates.
  • Securities within the Fund could become hard to value or to sell at a desired time and price, especially in extreme market conditions when asset prices may be falling, increasing the risk of investment losses.
  • The Fund may incur a higher level of transaction costs as a result of investing in less actively traded or less developed markets compared to a fund that invests in more active/developed markets.
  • The Fund could lose money if a counterparty with which the Fund trades becomes unwilling or unable to meet its obligations, or as a result of failure or delay in operational processes or the failure of a third party provider.
  • Funds incur costs as a necessary part of buying and selling the underlying investments, these are otherwise known as portfolio transaction costs, and include charges such as broker commission and Stamp Duty.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved.
  • Summary of Investor rights
  • Janus Henderson Investors Europe S.A. may decide to terminate the marketing arrangements of this Collective Investment Scheme in accordance with the appropriate regulation.
  • Information on compliance with EU Sustainability related disclosures can be found here.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report. Please refer to the prospectus of the UCITS and to the KID before making any final investment decisions.