Please ensure Javascript is enabled for purposes of website accessibility Absolute Return Income Fund - Janus Henderson Investors
For professional investors in Brazil

Absolute Return Income Fund

A strategy that seeks positive returns above cash by investing primarily in fixed income securities and associated derivatives.

ISIN
IE00BZ76W439

NAV
USD 11.36
As of 18/04/2024

1-Day Change
USD 0.00 (0.00%)
 As of 18/04/2024

Overview

INVESTMENT OBJECTIVE

The Fund aims to provide positive, consistent returns (although not guaranteed) above those that would be earned on cash equivalents.
Performance target: To outperform the FTSE 3-Month US Treasury Bill Index by at least 2% 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 a global portfolio of bonds of any quality, including high yield (non-investment grade) bonds and asset-backed and mortgage-backed securities, issued by governments or companies. The Fund may invest directly or via derivatives (complex financial instruments).
The Fund may also invest in other assets including bonds of other types from any issuer, preference shares, cash and money market instruments. In certain market conditions, the Fund may invest more than 35% of its assets in government bonds issued by any one body. The Fund will not invest more than 15% of its assets in high yield (non-investment grade) bonds and will never invest in bonds rated lower than B- or B3 (credit agency ratings), or if unrated deemed to be of a comparable quality by the Sub-Investment Adviser.
The Sub-Investment Adviser may use derivatives (complex financial instruments), including total return swaps, with the aim of making investment gains in line with the Fund's objective, to reduce risk or to manage the Fund more efficiently.
The Fund is actively managed with reference to the FTSE 3-Month US Treasury Bill Index as this forms the basis of the Fund's performance target. The Sub-Investment Adviser has a high degree of freedom to choose individual investments for the Fund.

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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

  • A cash-plus strategy designed to seek a steady income stream and higher returns than a money market fund
  • Places a high priority on seeking capital preservation
  • A potential diversifier within fixed income allocation
Past performance does not predict future returns. 
 

PORTFOLIO MANAGEMENT

Daniel Siluk

Daniel Siluk

Head of Global Short Duration & Liquidity | Portfolio Manager

Industry since 2004. Joined Firm in 2015.

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) FTSE 3-Month US Treasury Bill
  
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
04/05/2016
A2 USD (Net) 0.53 1.07 5.38 1.60 1.70 - 1.63
FTSE 3-Month US Treasury Bill 0.46 1.37 5.52 2.70 2.07 - 1.75
 
  Annualised
3YR 5YR 10YR Since Inception
04/05/2016
A2 USD (Gross) - 2.69 - 2.71
FTSE 3-Month US Treasury Bill + 2.00% - 4.11 - 3.78
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 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) FTSE 3-Month US Treasury Bill
YTD 2023 2022 2021 2020 2019 2018 2017 PERFORMANCE INCEPTION
04/05/2016
A2 USD (Net) 1.07 5.24 -1.02 -0.83 1.97 3.89 0.79 1.70 0.20
FTSE 3-Month US Treasury Bill 1.37 5.26 1.50 0.05 0.58 2.25 1.86 0.84 0.19
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 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 0.55%
Ongoing Charge
(As of 31/12/2022) 		0.95%
The ongoing charge is calculated using the PRIIPs methodology. The PRIIPs methodology differs to the UCITS ongoing charge methodology, as the PRIIPS methodology captures additional recurring charges, including but not limited to: a. Interest paid on borrowing (e.g. bank interest) b. Any fees incurred in relation to stock-lending activity (i.e. the fee paid to the lending agent) c. Any costs associated with holding closed-ended vehicles.
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
Buy Protection, 1.00%, 12/20/28 5.83
Janus Henderson Asset-Backed Securities Fund Z Acc USD Hedged 2.00
Credit Agricole SA, 5.13%, 03/11/27 1.86
Pay NZD BANK BILL 3MO Receive Fixed 5.44%, 5.44%, 07/27/25 1.65
Morgan Stanley, 6.14%, 10/16/26 1.55
Universal Health Services Inc, 1.65%, 09/01/26 1.44
Wells Fargo & Co, 2.16%, 02/11/26 1.22
Heritage and People's Choice Ltd, 5.94%, 02/08/27 1.18
Macquarie Group Ltd, 6.21%, 11/22/24 1.10
Energy Transfer LP, 6.05%, 12/01/26 1.02
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.

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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.
  • An issuer of a bond (or money market instrument) may become unable or unwilling to pay interest or repay capital to the Fund. If this happens or the market perceives this may happen, the value of the bond will fall.
  • When interest rates rise (or fall), the prices of different securities will be affected differently. In particular, bond values generally fall when interest rates rise (or are expected to rise). This risk is typically greater the longer the maturity of a bond investment.
  • The Fund invests in high yield (non-investment grade) bonds and while these generally offer higher rates of interest than investment grade bonds, they are more speculative and more sensitive to adverse changes in market conditions.
  • Some bonds (callable bonds) allow their issuers the right to repay capital early or to extend the maturity. Issuers may exercise these rights when favourable to them and as a result the value of the Fund may be impacted.
  • The Fund may use derivatives to help achieve its investment objective. This can result in leverage (higher levels of debt), which can magnify an investment outcome. Gains or losses to the Fund may therefore be greater than the cost of the derivative. Derivatives also introduce 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.
  • When the Fund, or a share/unit class, seeks to mitigate exchange rate movements of a currency relative to the base currency (hedge), the hedging strategy itself may positively or negatively impact the value of the Fund due to differences in short-term interest rates between the currencies.
  • 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 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.