Please ensure Javascript is enabled for purposes of website accessibility Global Select Fund - Janus Henderson Investors - Switzerland Professional Advisor (EN)
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For qualified investors in Switzerland

Global Select Fund

By investing in companies across the market-cap and style spectrum, we seek to deliver risk-adjusted returns that are consistently good, not sporadically great.

ISIN
LU0330915322

NAV
USD 25.37
As of 11/06/2025

1-Day Change
USD 0.00 (0.02%)
 As of 11/06/2025

Overview

Quarterly Update

Watch the investment team recap this quarter.

(Note: Recorded in April 2025).

INVESTMENT OBJECTIVE

Le Fonds vise à fournir une croissance du capital sur le long terme.
Objectif de performance: Surperformer par rapport à l'indice MSCI All Countries Index de 2,5% par an, avant déduction des charges, sur une période quelconque de cinq ans.

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Le Fonds investit au moins les deux tiers de son actif dans un portefeuille d’actions (également appelées parts de société) et de titres assimilés de sociétés de toutes tailles, actives dans tout secteur d’activité et dans n’importe quel pays. Le Fonds peut également investir dans d’autres actifs, y compris en liquidités et dans des instruments du marché monétaire. Le Gestionnaire d’Investissement peut recourir à des produits dérivés (instruments financiers complexes) pour réduire l’exposition au risque ou d’optimiser la gestion du Fonds. Le Fonds fait l’objet d’une gestion active par référence à l’indice MSCI World All Countries, qui est largement représentatif des sociétés dans lesquelles il peut investir et sur la base duquel l’objectif de performance du Fonds est défini. Le Gestionnaire d’Investissement a le pouvoir discrétionnaire de choisir des investissements pour le Fonds dont les pondérations sont différentes ou non de l’indice, mais il peut parfois détenir des investissements similaires à l’indice.

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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 global select fund seeking to grow capital by investing with conviction in companies worldwide where the portfolio managers believe the market underestimates free cash flow growth. The Fund considers both growth and value criteria as it seeks to deliver strong risk-adjusted returns over the long term, regardless of prevailing market conditions.

Flexible Global All-Cap Equities
The portfolio managers have the flexibility to invest in 40 to 65 companies across the globe, market cap, and style spectrum where free cash flow growth is believed to be underestimated by the market. The portfolio managers search for growing companies and attractive valuations.

Differentiated Insights
The intersection of independent viewpoints and differentiated perspectives between the portfolio managers and research analysts should lead to greater and more consistent excess returns over time.

Exacting Portfolio Construction
Taking a prudent approach to portfolio construction and risk management, the portfolio managers aim to drive superior risk-adjusted returns over the full market cycle through stock selection in an effort to avoid persistent biases.

Past performance does not predict future returns. 
 

Portfolio Management

Julian McManus: Portfolio Manager
Julian McManus

Portfolio Manager

Industry since 1994. Joined Firm in 2004.

Christopher O
Christopher O'Malley, CFA

Portfolio Manager | Research Analyst

Industry since 1998. Joined Firm in 2017.

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 31/05/2025
I2 USD (Net) MSCI All Country World IndexSM Global Large-Cap Blend Equity – OE
  
  Cumulative Annualised
  1MO YTD 1YR 3YR 5YR 10YR Since Inception
28/05/2015
I2 USD (Net) 8.21 5.75 6.95 10.75 10.42 9.53 9.43
MSCI All Country World IndexSM 5.75 5.32 13.65 12.30 13.37 9.27 9.19
Global Large-Cap Blend Equity – OE 5.68 6.12 10.83 10.11 10.93 7.06 7.02
 
  Annualised
3YR 5YR 10YR Since Inception
28/05/2015
I2 USD (Gross) - 11.62 10.72 10.62
MSCI AC World NR + 2.50% - 16.20 12.00 11.92
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 2025. 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.
From 29 November 2023, the Fund's name and strategy changed. The past performance shown before 29th November 2023 was therefore achieved under circumstances that no longer apply
Calendar year performance is available on the fund’s factsheet
Calendar Year Returns (%)
As of 31/03/2025
I2 USD (Net) MSCI All Country World IndexSM Global Large-Cap Blend Equity – OE
YTD 2024 2023 2022 2021 2020 2019 2018 2017 2016 Performance Inception
I2 USD (Net) -2.87 17.10 13.98 -23.12 20.01 24.14 25.44 -7.10 30.68 3.92 -3.71
MSCI All Country World IndexSM -1.32 17.49 22.20 -18.36 18.54 16.25 26.60 -9.41 23.97 7.86 -7.59
Global Large-Cap Blend Equity – OE -0.82 12.13 19.07 -19.39 16.60 14.39 23.86 -12.11 23.32 3.80 -7.11
Calendar Year Returns (%)
Year I2 USD (Net) MSCI All Country World IndexSM Global Large-Cap Blend Equity – OE
2024 17.10 17.49 12.13
2023 13.98 22.20 19.07
2022 -23.12 -18.36 -19.39
2021 20.01 18.54 16.60
2020 24.14 16.25 14.39
2019 25.44 26.60 23.86
2018 -7.10 -9.41 -12.11
2017 30.68 23.97 23.32
2016 3.92 7.86 3.80
2015 from 28/05/2015 -3.71 -7.59 -7.11
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 2025. 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.
From 29 November 2023, the Fund's name and strategy changed. The past performance shown before 29th November 2023 was therefore achieved under circumstances that no longer apply

Recommended holding period 5 Years

Example Investment: USD 10,000

Scenarios If you exit after 1 year If you exit after 5 years
MinimumThere is no minimum guaranteed return. You could lose some or all of your investment
StressWhat you might get back after costs1,520 USD1,530 USD
Average return each year-84.83%-31.26%
UnfavourableWhat you might get back after costs7,350 USD10,600 USD
Average return each year-26.53%1.17%
ModerateWhat you might get back after costs11,120 USD16,370 USD
Average return each year11.23%10.36%
FavourableWhat you might get back after costs14,980 USD22,690 USD
Average return each year49.85%17.80%
This chart shows the fund’s performance as the percentage loss or gain per year over the last 10 years against its benchmark. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

As of 31/03/2025
I2 USD (Net) MSCI All Country World IndexSM Global Large-Cap Blend Equity – OE
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.
Past performance does not predict future returns. The value of an investment may go down as well as up and you may lose the amount originally invested. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past.
© Morningstar 2025. 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 0.00%
Annual Charge 1.00%
Ongoing Charge
(As of 30/09/2022) 		1.07%
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 31/05/2025)
% of Fund
Taiwan Semiconductor Manufacturing 5.56
BAE Systems 5.19
Microsoft 5.18
NVIDIA 4.17
Arthur J Gallagher 3.96
Ferguson Enterprises 3.90
Amazon.com 3.64
Liberty Media Corp-Liberty Formula One 3.51
TJX Cos 3.15
Chipotle Mexican Grill 2.68
TOTAL 40.95
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

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Related Insights
Global Perspectives: Are we seeing a regime shift between U.S. and non-U.S. stocks?
10 Jun 2025
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How policy changes might prove to be the catalyst for a switch in global equity leadership.

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Timely & Topical

Toyota’s bold move marks a new era in Japanese corporate governance

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Quick View: How to think about global equities following Trump’s tariff plan
3 Apr 2025
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Quick View: How to think about global equities following Trump’s tariff plan

Rather than favoring U.S. stocks at any price, investors may want to prioritize a global approach focused on valuation and free-cash-flow growth.

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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.
  • Les actions/parts peuvent perdre rapidement de la valeur et impliquent généralement des niveaux de risques plus élevés que les obligations ou les instruments du marché monétaire. La valeur de votre placement peut par conséquent chuter.
  • Les marchés émergents exposent le Fonds à une volatilité plus élevée et à un risque de perte plus important que les marchés développés ; ils sont susceptibles aux événements politiques et économiques défavorables, et peuvent être moins bien réglementés avec des procédures de garde et de règlement moins robustes.
  • Le Fonds peut avoir recours à des instruments dérivés dans le but de réduire le risque ou de gérer le portefeuille plus efficacement. Toutefois, cela introduit d’autres risques, et en particulier celui qu’une contrepartie à un instrument dérivé ne respecte pas ses obligations contractuelles.
  • Si le Fonds détient des actifs dans des devises autres que la devise de référence du Fonds ou si vous investissez dans une catégorie d’actions/de parts d’une devise différente de celle du Fonds (sauf si elle est «couverte»), la valeur de votre investissement peut être soumise aux variations des taux de change.
  • Lorsque le Fonds, ou une catégorie d’actions/de parts couverte, vise à atténuer les fluctuations de change d’une devise par rapport à la devise de référence, la stratégie elle-même peut créer un impact positif ou négatif relativement à la valeur du Fonds en raison des différences de taux d’intérêt à court terme entre les devises.
  • Les titres du Fonds peuvent devenir difficiles à valoriser ou à céder au prix ou au moment désiré, surtout dans des conditions de marché extrêmes où les prix des actifs peuvent chuter, ce qui augmente le risque de pertes sur investissements.
  • Le Fonds peut perdre de l’argent si une contrepartie avec laquelle le Fonds négocie ne veut ou ne peut plus honorer ses obligations, ou en raison d’un échec ou d’un retard dans les processus opérationnels ou de la défaillance d’un fournisseur tiers.
  • 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.
  • The Legal Entity Identifier for this product is 213800KBD5CECW62MJ88.

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