John Kerschner, CFA
John Kerschner is Global Head of Securitised Products and a portfolio manager at Janus Henderson Investors. He is a member of the Securitised Credit and Core Plus Teams and leads the teams in finding innovative ways to utilise structured products in the firm’s portfolios. Prior to joining Janus in 2010, John was director of portfolio management at BBW Capital Advisors. Before that, he worked for Woodbourne Investment Management, where he was global head of credit investing. John began his career at Smith Breeden Associates as an assistant portfolio manager and was promoted several times over 12 years, becoming a principal, senior portfolio manager and director of the ABS-CDO group.
John received his Bachelor of Arts degree in biology from Yale University, graduating cum laude. He earned his MBA from Duke University, Fuqua School of Business, where he was designated a Fuqua Scholar. John holds the Chartered Financial Analyst designation and has 35 years of financial industry experience.
Products Managed
Articles Written
Chart to Watch: Indiscriminate selling in auto ABS creates opportunities for active managers
While the subprime consumer is becoming strained and delinquencies in that segment are on the rise, ABS exposed to the prime consumer remain on solid footing.
Fannie and Freddie privatization: What does it mean for MBS?
Assessing the implications of the proposed privatization of Fannie Mae and Freddie Mac for fixed income investors.
CEO Sessions: What are clients focused on within fixed income?
Conversations with clients on fixed income at JHI’s Madrid Investment Summit.
The role of U.S. securitized assets in the Global Financial Crisis: Part 1
The first in a three-part video series explores the role securitized assets played in the Global Financial Crisis.
The role of U.S. securitized assets in the Global Financial Crisis: Part 3
The final installment in a three-part video series considers how non-mortgage related securitized sectors fared through the GFC and what investors can learn from this period in history.
The role of U.S. securitized assets in the Global Financial Crisis: Part 3
The final installment in a three-part video series considers how non-mortgage related securitized sectors fared through the GFC and what investors can learn from this period in history.
The role of U.S. securitized assets in the Global Financial Crisis: Part 2
The second installment in a three-part video series explores collateralized debt obligations (CDOs) and synthetic CDOs and their role in the Global Financial Crisis.
Chart to Watch: US investment-grade ABS exhibit low default rates
The historically low default rates in the U.S. IG ABS market can be ascribed to consistent underwriting standards and several investor protections inherent within ABS structures.
Chart to Watch: Most U.S. households are still cash flush
Despite somewhat sticky inflation and a recent softening in the labor market, the majority of U.S. households are in a stronger financial position than they were pre-COVID.
Are higher mortgage rates hurting U.S. households?
Assessing the impact of higher mortgage rates on U.S. homeowners.
Quick View: Lingering tariff concerns overshadow a win on inflation
Considering the potential implications of April’s inflation print for the bond market, the Fed, and fixed income investors.
Indicators flashing green for agency MBS?
Three reasons agency MBS look attractive right now.