PURSUE FIXED INCOME
Uncertainty can shake any investor’s confidence and lead to costly mistakes. To overcome uncertainty, pursue fixed income.
New Era, New Roadmap
Traditional lines in fixed income investing have been blurred by low rates and a proliferation of new strategies. As a result, what was once a fairly straightforward asset class focused on providing downside protection and income is now disorienting for many investors. In this new era, we think it's more important than ever to focus on an investor's goals rather than attempt to find a single solution.
Funds in focus
Risk-managing, core fixed income
New Consideration: With most global
sovereign bond rates below 1% or
negative, traditional benchmarks with
large, passive weightings to sovereign
debt are no longer a bond investor’s
New Roadmap: Dig deeper into the
defensive tool kit; understand new
opportunities and trade offs within
securitized, investment grade corporates,
and both short and intermediate duration.
Move beyond traditional benchmarks
A brave new world
New Consideration: COVID-era volatility
has been relentless in exacerbating the
gaps and concentrations in fixed income
allocations. There has been a decade’s
worth of new dynamic fixed income
strategy launches, but COVID-19 and the
GFC prove that no amount of innovation
has escaped the fact that increased yield
carries increased risk.
New Roadmap: Diversifying strategies are
dynamic tools that can “re-risk” core fixed
income overweights and/or “de-risk”
overly aggressive fixed income allocations.
However, we believe investors need to
focus on managers who streamline their
approach and limit exposure to esoteric
asset classes and complex approaches
that can generate unintended risk.
High income opportunities
Expertise and grit
New Consideration: A historical bull
market in the riskiest – and highestreturning
– fixed income markets was
followed by a sell-off unprecedented in
both speed and magnitude, creating oncein-
a-lifetime opportunities alongside the
potential for another drastic sell-off.
New Roadmap: Wide spreads don’t
guarantee positive prospective returns,
but investors need to pay heed to the
opportunities presented. Sector- and
security-selection expertise tied to
appropriate timing and a strong stomach
are the necessary ingredients in order to
navigate a rebound in these markets.
Meet the experts
Our Fixed Income teams provide coverage across the asset class, applying a wide range of differentiated techniques. These teams include those adopting global unconstrained approaches through to those with more focused mandates. The capabilities of these teams can be accessed through individual strategies and are combined where appropriate to form multi-strategy offerings.
Jenna Barnard is Co-Head of Strategic Fixed Income at Janus Henderson Investors, a position she has held since 2015. She has 19 years of financial industry experience.
John Pattullo is Co-Head of Strategic Fixed Income at Janus Henderson Investors. A position he has held since 2015. He has 27 years of financial industry experience.
Nick Maroutsos is Head of Global Bonds at Janus Henderson Investors. He is also a Portfolio Manager. He has 21 years of financial industry experience.
Jason England is a Global Bonds Portfolio Manager at Janus Henderson Investors. He has 26 years of financial industry experience.
Daniel Siluk is a Portfolio Manager at Kapstream Capital, a subsidiary of Janus Henderson Investors. He has 17 years of financial industry experience.
Tom Ross is a Corporate Credit Portfolio Manager at Janus Henderson Investors. He has 18 years of financial industry experience.
Global Fixed Income Perspectives
Quarterly insight from our fixed income teams to help clients navigate
the risks and opportunities ahead.
Our intellectual capital is readily available and central to our Knowledge Shared approach.
Central to our Knowledge Shared approach is making the intellectual capital of our investment teams and subject matter experts available to our clients. Click to explore the Fixed Income Team’s views on key topics that are shaping their investment strategy.
Adam Hetts talks to Seth Meyer and Tom Ross, portfolio managers on the high yield bond strategies, about how with credit spreads gradually tightening, returns will become less about market direction (beta) and more about identifying individual opportunities (alpha).Read More
John Pattullo, Co-Fund Manager of Henderson Diversified Income Trust, explains why an expected and predictable cyclical reflation should not be confused with a longer-term structural breakout of inflation.Read More
John Pattullo, Co-Head of Strategic Fixed Income, explains why an expected and predictable cyclical reflation should not be confused with a longer-term structural breakout of inflation.Read More
- 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 is not a guide to future performance.
- You should note that your tax treatment in relation to any investments held outside an ISA will depend on your individual circumstances and may be subject to change in the future. Governments may change the tax rules which affect you or the Funds in which you have invested.
- Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.