Please ensure Javascript is enabled for purposes of website accessibility Global High Yield Bond Fund - Janus Henderson Investors
For financial professionals in the UK

Global High Yield Bond Fund

A fund that accesses the total return potential of high-yield bonds through a portfolio diversified by issuers, sectors, and geography.

ISIN
GB00BKSB1H89

NAV
GBP 103.00p
As of 20/06/2024

1-Day Change
GBP 0.00p (0.00%)
As of 20/06/2024

Overview

Quarterly Update

Watch the investment team recap this quarter.

(Note: Filmed in April 2024).

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.

INVESTMENT OBJECTIVE

The Fund aims to provide an income with the potential for capital growth over the long term. Performance target: To outperform the ICE BofA Global High Yield Constrained Index Hedged to GBP by 1.75% 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 high yield (non-investment grade, equivalent to BB+ rated or lower) corporate bonds, in any country. The Fund may also invest a combined maximum of 20% in other assets including bonds of other types from any issuer, cash and money market instruments. The Investment Manager 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 ICE BofA Global High Yield Constrained Index Hedged to GBP, as this forms the basis of the Fund’s performance target. The Investment Manager has discretion to choose investments for the Fund with weightings different to the index or not in the index. As an additional means of assessing the performance of the Fund, the IA Sterling High Yield sector average, which is based on a peer group of broadly similar funds, may also provide a useful comparator.

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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

  • Co-managed from the US and Europe, the fund benefits from a global perspective with local insight
  • Research is focused on identifying issuers more likely to outperform and underperform to help generate risk-adjusted returns and avoid defaults
  • The global approach allows access to a variety of economies and companies at different stages in the business cycle
Past performance does not predict future returns. 
 

PORTFOLIO MANAGEMENT

Tom Ross, CFA

Global Head of High Yield | Portfolio Manager

Industry since 2002. Joined Firm in 2002.

Brent Olson

Portfolio Manager

Industry since 1997. Joined Firm in 2017.

Tim Winstone, CFA

Portfolio Manager

Industry since 2003. 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.
Discrete Performance (%)
As of 31/03/2024
I Acc (Net) ICE BofA Global High Yield Constrained GBP Hgd IA £ High Yield
 
Quarter End
As of 31/03/2024
Mar-2023 - Mar-2024 Mar-2022 - Mar-2023 Mar-2021 - Mar-2022 Mar-2020 - Mar-2021 Mar-2019 - Mar-2020
I Acc (Net) 12.62 -7.77 -3.63 - -
ICE BofA Global High Yield Constrained GBP Hgd 10.82 -4.70 -3.56 - -
IA £ High Yield 10.72 -4.23 -0.83 - -

Index Description

The ICE BofA Global High Yield Constrained Index is a measure of the combined performance of sub investment grade corporate debt securities from developed and emerging stock markets around the world. It forms the basis of the Fund’s performance target.

Peer Group Description

The Investment Association (IA) groups funds with similar geographic and/or investment remit into sectors. The fund's ranking within the sector (as calculated by a number of data providers) can be a useful performance comparison against other funds with similar aims.

Cumulative & Annualised Performance (%)
As of 31/05/2024
I Acc (Net) ICE BofA Global High Yield Constrained GBP Hgd IA £ High Yield
 
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
01/12/2020
I Acc (Net) 1.09 3.38 12.79 -0.23 - - 0.62
ICE BofA Global High Yield Constrained GBP Hgd 1.21 2.49 11.41 0.30 - - 1.30
IA £ High Yield 0.92 2.64 10.78 1.47 - - 2.32

Index Description

The ICE BofA Global High Yield Constrained Index is a measure of the combined performance of sub investment grade corporate debt securities from developed and emerging stock markets around the world. It forms the basis of the Fund’s performance target.

Peer Group Description

The Investment Association (IA) groups funds with similar geographic and/or investment remit into sectors. The fund's ranking within the sector (as calculated by a number of data providers) can be a useful performance comparison against other funds with similar aims.

FEE INFORMATION
Initial Charge 0.00%
Annual Charge 0.60%
Ongoing Charge
(As of 31/10/2023)
0.74%

Documents

  • ​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.
  • Emerging markets expose the Fund to higher volatility and greater risk of loss than developed markets; they are susceptible to adverse political and economic events, and may be less well regulated with less robust custody and settlement procedures.
  • 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.
  • 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 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.
  • Some or all of the ongoing charges may be taken from capital, which may erode capital or reduce potential for capital growth.
  • CoCos can fall sharply in value if the financial strength of an issuer weakens and a predetermined trigger event causes the bonds to be converted into shares/units of the issuer or to be partly or wholly written off.
  • 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.
  • Some documents are available in alternative formats. Click here for information on how to request them.
  • 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