For financial professionals in Italy

Global Equity Market Neutral Fund

An equity fund targeting positive absolute returns and low volatility in all market conditions

ISIN
LU2152367731

NAV
GBP 9.53
As of 03/10/2022

1-Day Change
GBP -0.00 (-0.01%)
As of 03/10/2022


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

Overview

Quarterly update

Watch the investment team recap this quarter.

Note: Filmed in July 2022

INVESTMENT OBJECTIVE

The Fund aims to provide a positive (absolute) return, regardless of market conditions, over any 12 month period. A positive return is not guaranteed over this or any other time period and, particularly over the shorter term, the Fund may experience periods of negative returns. Consequently, your capital is at risk.
Performance target: To outperform the US Base Rate, after the deduction of charges, over any 3 year period.

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The Fund invests in shares and makes extensive use of derivatives (complex financial instruments) to take both ‘long’ and ‘short’ positions in companies the investment manager believes will either rise in value (long positions) or fall in value (short positions) meaning that the Fund may benefit from either scenario.
Typically, the Fund will match each long position in a company with an equivalent sized short position in another company (known as a 'pair'), with the aim of benefitting from price divergence between the long and short exposures of the pair, while minimising the effect of wider market movements.
The Fund will hold a significant proportion of its assets in cash and money market instruments as a result of holding derivatives.
The investment manager may also use derivatives (complex financial instruments) to reduce risk or to manage the Fund more efficiently.
The Fund is actively managed with reference to the US Base Rate as this forms the basis of the Fund's performance target and the level above which performance fees may be charged (if applicable). For currency hedged Share Classes, the central bank rate that corresponds with the relevant Share Class currency is used as the basis of the performance comparison and for calculating performance fees. The investment manager has complete discretion to choose investments for the Fund and is not constrained by a benchmark.

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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

  • Employs a market-neutral approach intended to generate returns irrespective of market direction
  • Captures the best ideas of a selection of Janus Henderson’s in-house equity teams
  • The fund aims to enhance the overall risk-return characteristics of a balanced portfolio while seeking to provide diversification from the broad equity markets and reduced overall volatility
Past performance does not predict future returns. 
 

PORTFOLIO MANAGEMENT

Steve Johnstone, CFA

Portfolio Manager

Industry since 1991. Joined Firm in 2011.

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.
Cumulative & Annualised Performance (%)
As of 31/08/2022
G2 HGBP (Net) Bank of England Base Rate
 
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
30/04/2020
G2 HGBP (Net) -0.05 -1.84 -2.83 - - - -1.70
Bank of England Base Rate 0.15 0.61 0.65 - - - 0.33
Calendar Year Returns (%)
As of 31/12/2021
G2 HGBP (Net) Bank of England Base Rate
YTD 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 PERFORMANCE INCEPTION
30/04/2020
G2 HGBP (Net) -2.03 -4.01 - - - - - - - - - 1.96
Bank of England Base Rate 0.35 0.11 - - - - - - - - - 0.07
FEE INFORMATION
Initial Charge 5.00%
Annual Charge 0.65%
Ongoing Charge
(As of 31/03/2022)
0.72%
Performance Fee 20% (relative to the hurdle rate and high water mark)

Portfolio

Top Holdings (As of 31/08/2022)
% of Fund
Deutsche Global Liquidity Series Plc - Managed Dollar Fund Platinum USD 1.74
RELX 1.63
Macquarie Group 1.55
Danone 1.50
Spirit Realty Capital 1.42
Sanofi 1.41
TDK 1.39
Hang Lung Properties 1.37
Paragon Banking Group 1.29
nVent Electric 1.27

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.
  • Shares/Units 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.
  • 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/unit class of a different currency to the Fund (unless 'hedged'), the value of your investment may be impacted by changes in exchange rates.
  • When the Fund, or a hedged share/unit class, seeks to mitigate exchange rate movements of a currency relative to the base currency, the hedging strategy itself may create a positive or negative impact to 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 involves a high level of buying and selling activity and as such will incur a higher level of transaction costs than a fund that trades less frequently. These transaction costs are in addition to the Fund's Ongoing Charges.
  • 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.
  • 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.
  • 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.
  • 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 KIID before making any final investment decisions.