Please ensure Javascript is enabled for purposes of website accessibility Flexible Income Fund - Janus Henderson Investors - Hong Kong Investor (EN)
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For investors in Hong Kong

Flexible Income Fund

A flexible core bond fund with a 20+ year history of seeking risk-adjusted returns

ISIN
IE00B3R7SC21

NAV
HKD 6.86
As of 2025/05/12

1-Day Change
HKD -0.01 (-0.15%)
 As of 2025/05/12

Key investment risks:

  • The Fund invests in debt securities (including below investment grade or unrated); and asset/ mortgage-backed securities and is subject to greater interest rate, credit/ counterparty, volatility, liquidity, downgrading, valuation, credit rating risks. It may be more volatile.
  • Investments in the Fund involve general investment, currency, hedging,

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  • economic, political, policy, foreign exchange, liquidity, tax, legal, regulatory and securities financing transactions related risks. In extreme market conditions, you may lose your entire investment.
  • The Fund may invest in financial derivatives instruments for investment and efficient portfolio management purposes. This may involve counterparty, liquidity, leverage, volatility, valuation, over-the-counter transaction, credit, currency, index, settlement default and interest risks; and the Fund may suffer total or substantial losses.
  • The Fund's investments are concentrated in US income producing securities and may be more volatile.
  • The Fund may at its discretion pay dividends (i) pay dividends out of the capital of the Fund, and/ or (ii) pay dividends out of gross income while charging all or part of the fees and expenses to the capital of the Fund, resulting in an increase in distributable income available for the payment of dividends by the Fund and therefore, the Fund may effectively pay dividends out of capital. This may result in an immediate reduction of the Fund’s net asset value per share, and it amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment.
  • Investors should not only base on this document alone to make investment decisions and should read the offering documents including the risk factors for further details.

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Overview

INVESTMENT OBJECTIVE

The Fund aims to obtain maximum total return, consistent with preservation of capital.

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The Fund invests up to 70% of its net asset value (but at all times not less than 60% of its net asset value) in income producing securities of US issuers.

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ABOUT THIS FUND

  • Culture of collaboration, global integration and respectful challenge with a research-first mentality.
  • Disciplined investment process targets repeatable performance utilizing our structural foundation as a better starting point.
  • Bottom-up idea generation across a diverse set of return sources, incorporating dynamic allocation through market cycles.

Portfolio Management

Greg Wilensky, CFA: Head of US Fixed Income/Head of Core Plus | Portfolio Manager
Greg Wilensky, CFA

Head of US Fixed Income/Head of Core Plus | Portfolio Manager

Industry since 1993. Joined Firm in 2020.

Michael Keough: Portfolio Manager
Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

John Lloyd: Lead, Multi-Sector Credit Strategies | Portfolio Manager
John Lloyd

Lead, Multi-Sector Credit Strategies | Portfolio Manager

Industry since 1998. Joined Firm in 2005.

Performance

Cumulative Performance (%)
As of 2025/04/30
A3m HKD (Net) Bloomberg U.S. Aggregate Bond Index USD Diversified Bond - OE
 
  Cumulative
  1MO 3MO 6MO YTD 1YR 3YR 5YR Since Inception
2013/03/28
A3m HKD (Net) -0.01 1.79 1.93 2.67 6.65 0.45 -6.28 5.93
Bloomberg U.S. Aggregate Bond Index 0.06 2.15 2.31 3.01 7.10 4.74 -3.27 22.49
USD Diversified Bond - OE 0.14 1.69 2.07 2.57 6.12 5.27 1.81 19.01
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
Calendar Year Returns (%)
As of 2025/03/31
A3m HKD (Net) Bloomberg U.S. Aggregate Bond Index USD Diversified Bond - OE
2024 2023 2022 2021 2020
A3m HKD (Net) 0.12 3.91 -15.13 -1.73 8.25
Bloomberg U.S. Aggregate Bond Index 0.72 5.58 -12.91 -1.00 6.98
USD Diversified Bond - OE 1.29 4.80 -10.07 -0.96 6.40
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.

Recommended holding period 5 Years

Example Investment: HKD 100,000

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 costs61,320 HKD62,940 HKD
Average return each year-38.68%-8.84%
UnfavourableWhat you might get back after costs79,440 HKD84,060 HKD
Average return each year-20.56%-3.41%
ModerateWhat you might get back after costs95,390 HKD96,870 HKD
Average return each year-4.61%-0.63%
FavourableWhat you might get back after costs104,990 HKD112,730 HKD
Average return each year4.99%2.43%
There is currently insufficient data to provide a useful indication of past performance to investors.
Fee Information
Initial Charge 5.00%
Annual Charge 0.65%
Ongoing Charge
(As of 2024/12/31) 		1.73%
The ongoing charge is calculated using the Packaged Retail Investment Product (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.
Please refer to the offering documents for more details on the fees and expenses.

Portfolio

Top Holdings (As of 2025/03/31)
% of Fund
Janus Henderson Asset-Backed Securities Fund Z Acc USD Hedged, 4.61%, 05/07/2028 2.00
United States Treasury Note/Bond, 4.50%, 11/15/2054 1.59
United States Treasury Note/Bond, 4.25%, 12/31/2026 1.46
Citigroup Inc, 5.59%, 11/19/2034 1.22
Freddie Mac Pool, 6.00%, 09/01/2053 0.85
United States Treasury Note/Bond, 3.88%, 03/15/2028 0.83
Bank of America Corp, 5.74%, 02/12/2036 0.80
Freddie Mac STACR REMIC Trust 2021-DNA6, 5.84%, 10/25/2041 0.77
Morgan Stanley Capital I Trust 2015-UBS8, 3.81%, 12/15/2048 0.71
Booz Allen Hamilton Inc, 5.95%, 04/15/2035 0.70
TOTAL 10.93
Portfolio holdings are subject to change without notice. 
Sector Allocation % of Fund % of Index % of Fund % of Index As of 2025/03/31
Industry Breakdown % of Fund % of Index % of Fund % of Index As of 2025/03/31
Regional Allocation % of Fund % of Index % of Fund % of Index As of 2025/03/31
Credit Quality of Fixed Income Holdings % of Fund % of Index % of Fund % of Index As of 2025/03/31
Bond credit quality ratings provided by Barclays and reflect the middle rating received from Moody's, Standard & Poor's and Fitch, where all three agencies have provided a rating. If only two agencies rate a security, the lowest rating is used. If only one agency rates a security, that rating is used. Ratings are measured on a scale that ranges from Aaa (highest) to D (lowest).

Documents

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