For individual investors in the UK

Horizon Biotechnology Fund

A fund investing in innovative companies addressing high unmet medical needs or improving the standard of care in the fast-growing biotechnology sector.


USD 15.48
As of 21/01/2022

1-Day Change
USD -0.43 (-2.70%)
As of 21/01/2022

Morningstar Rating

Morningstar ratings are based on the representative share class of this fund and are dated to the last month-end upon availability from Morningstar.



The Fund aims to provide capital growth over the long term.
Performance target: To outperform the NASDAQ Biotechnology Total Return Index by 2% per annum, before the deduction of charges, over any 5 year period.


The Fund invests at least 80% of its assets in shares (equities) and equity-related securities of companies, which are biotechnology or biotechnology-related, in any country.
The Fund may also invest in other assets including bonds (including convertible bonds), preference shares, cash and money market instruments.
The investment manager may use derivatives (complex financial instruments) 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 NASDAQ Biotechnology Total Return 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.


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 for promotional purposes and does not qualify as an investment recommendation.


Experienced and Specialised Investment Team: Dedicated biotechnology specialists with a distinguished record of investing in biotechnology stocks. Team is supported by the larger Janus Henderson health care team.

Differentiated Fundamental Research: Seek to understand the science and the business to identify opportunities and mitigate the clinical and commercial risks inherent in the sector.

Disciplined Investment Process: Balanced across development stage, early commercial and profitable biotechnology companies and augmented by a differentiated Value at Risk Framework designed to mitigate the volatility associated with drug development.

Past performance is not a guide to future performance.



Andy Acker, CFA

Global Life Sciences | Portfolio Manager

Industry since 1996. Joined Firm in 1999.

Daniel Lyons, PhD, CFA

Portfolio Manager | Research Analyst

Industry since 2000. Joined Firm in 2000.


Past performance is not a guide to future performance. 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 31/12/2021
A2 USD (Net) NASDAQ Biotechnology Total Return
Dec-2020 - Dec-2021 Dec-2019 - Dec-2020 Dec-2018 - Dec-2019 Dec-2017 - Dec-2018 Dec-2016 - Dec-2017
A2 USD (Net) -5.17 61.32 34.70 - -
NASDAQ Biotechnology Total Return 0.02 26.42 25.11 - -
Dec-2020 - Dec-2021 Dec-2019 - Dec-2020 Dec-2018 - Dec-2019 Dec-2017 - Dec-2018 Dec-2016 - Dec-2017
A2 USD (Gross) -1.10 67.28 39.41 - -
NASDAQ Biotechnology Total Return + 2.00% 2.02 28.96 27.61 - -
Cumulative & Annualised Performance (%)
As of 31/12/2021
A2 USD (Net) NASDAQ Biotechnology Total Return
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
A2 USD (Net) 2.25 -5.17 -5.17 27.24 - - 23.48
NASDAQ Biotechnology Total Return -1.23 0.02 0.02 16.52 - - 13.52
3YR 5YR 10YR Since Inception
A2 USD (Gross) - - - 28.16
NASDAQ Biotechnology Total Return + 2.00% - - - 15.79
A2 USD (Net) NASDAQ Biotechnology Total Return
2017 2018 2019 2020 2021
A2 USD (Net) - - 34.70 61.32 -5.17
NASDAQ Biotechnology Total Return - - 25.11 26.42 0.02
2017 2018 2019 2020 2021
A2 USD (Gross) - - 39.41 67.28 -1.10
NASDAQ Biotechnology Total Return + 2.00% - - 27.61 28.96 2.02
Initial Charge 5.00%
Annual Charge 1.20%
Ongoing Charge
(As of 30/06/2021)
Performance Fee 20% of the 'Relevant Amount'


Top Holdings (As of 30/11/2021)
% of Fund
Sarepta Therapeutics 4.70
Vertex Pharmaceuticals 3.26
Ascendis Pharma 2.72
EyePoint Pharmaceuticals 2.62
Neurocrine Biosciences 2.19
Biohaven Pharmaceutical 2.07
Argenx 1.96
Alnylam Pharmaceuticals 1.96
Horizon Therapeutics 1.94
BioMarin Pharmaceutical 1.86


  • ​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.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • Shares 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.
  • If a Fund has a high exposure to a particular country or geographical region it carries a higher level of risk than a Fund which is more broadly diversified.
  • 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 may use derivatives towards the aim of achieving its investment objective. This can result in 'leverage', which can magnify an investment outcome and gains or losses to the Fund may 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 class of a different currency to the Fund (unless 'hedged'), 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 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.
  • Information on compliance with EU sustainable related disclosures can be found here.
  • 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.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved, you may wish to consult a financial adviser.
  • If you invest through a third party provider you are advised to consult them directly as charges, performance and terms and conditions may differ materially.
  • Summary of Investor rights
  • 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.