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For financial professionals in Italy

Fixed Maturity Bond Fund (EUR) 2027

A fixed maturity bond portfolio built with income in mind

ISIN
IE000JIM25V2

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Overview

INVESTMENT OBJECTIVE

The Fund aims to provide a regular income while aiming to preserve the initial capital invested over the Term. The Fund is designed to be held until the end of the Term and investors should be prepared to remain invested until such date. The income amount or capital value is not guaranteed. The value of the shares at the end of the Term may be less than the value at the time of investment because of the Fund’s distribution policy or market movements.

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The Fund invests at least 75% of its net asset value in global Investment Grade corporate bonds (equivalent to BBB rated or higher). The Fund may invest up to 5% in the securities of other Eligible Collective Investment Schemes, up to 25% in high yield (non-investment grade) bonds or preference shares (of which up to 5% are bonds or preference shares from Developing Markets) and up to 5% in unrated bonds of comparable quality. The Fund may also invest in high yield (non-Investment Grade) bonds, government bonds, municipal bonds, commercial paper, certificates of deposit and cash. The Fund may invest up to 10% of its net asset value in agency MBS (which does not include CMOs). The Fund will not invest in contingent convertible bonds. The Sub-Investment Adviser may use derivatives (complex financial instruments) to reduce risk, to manage the Fund more efficiently, or to generate additional capital or income for the Fund as well as for investment purposes. The Fund is managed on a buy and maintain basis without reference to a benchmark. The Sub-Investment Adviser has a high degree of freedom to choose investments for the Fund but will aim to keep activity in the portfolio to a low level.

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KEY DATES

Initial offer period start date 11 September 2023
Initial offer period closing date 2 November 2023
Maturity date 22 October 2027

The fund invests in a well-diversified portfolio of primarily investment grade global corporates. Utilising in-depth fundamental company research, the fund aims to exploit price inefficiencies and enhance yield, with an emphasis on loss avoidance and minimal turnover.

Fund is designed to be held to 22 October 2027 (Maturity) and investors should be prepared to remain invested until such date. Fees are applicable if shares are redeemed before the maturity date. Please refer to the prospectus for further details.

ABOUT THIS FUND

  • Disciplined repeatable process: Over 14 years experience in managing portfolios with specific yield and maturity targets. Our active approach, combined with a disciplined and repeatable process to monitor the evolution of portfolio risks, is designed to deliver to client expectations.
  • Credit selection expertise: One global corporate credit team covering investment grade, high yield and blended solutions, fully leveraging our industry insights to enhance portfolio yields. We focus on avoiding defaults and downgrades, while identifying adequate compensation for risk taken.
  • Portfolio risk optimisation: Quantitative analysis supports credit research, identifying price inefficiencies and harnessing signals from the markets. Co-ownership of risk between portfolio managers and analysts encourages accountability.
Past performance does not predict future returns. 
 

PORTFOLIO MANAGEMENT

James Briggs, ACA, CFA

Portfolio Manager

Industry since 1998. Joined Firm in 2005.

Tim Winstone, CFA

Portfolio Manager

Industry since 2003. Joined Firm in 2015.

Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Brad Smith

Portfolio Manager

Industry since 2010. Joined Firm in 2010.

Carl Jones

Associate Portfolio Manager

Industry since 2011. Joined Firm in 2022.

Performance

We are only permitted to show fund performance over a minimum period of one year.
FEE INFORMATION
Initial Charge 0.00%
Annual Charge 0.35%
Ongoing Charge
(As of 02/11/2023)
0.50%

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. High yielding (non-investment grade) bonds are more speculative and more sensitive to adverse changes in market conditions.
  • 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.
  • 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 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.
  • If the Fund holds assets in currencies other than the base currency of the Fund, or you invest in a share/unit class of a different currency to the Fund (unless hedged, i.e. mitigated by taking an offsetting position in a related security), the value of your investment may be impacted by changes in exchange rates.
  • 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.
  • Some or all of the ongoing charges may be taken from capital, which may erode capital or reduce potential for capital growth.
  • 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.
  • In addition to income, this share class may distribute realised and unrealised capital gains and original capital invested. Fees, charges and expenses are also deducted from capital. Both factors may result in capital erosion and reduced potential for capital growth. Investors should also note that distributions of this nature may be treated (and taxable) as income depending on local tax legislation.
  • 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.