John Kerschner, CFA
John Kerschner is Head of U.S. Securitized Products at Janus Henderson Investors and a Portfolio Manager of the Multi-Sector Income strategy and Mortgage-Backed Securities ETF. He also has co-managed the fixed income portion of the Perkins Value Plus Income strategy since 2018. In his role as Head of U.S. Securitized Products, Mr. Kerschner primarily focuses on mortgage-backed securities and other structured products. Prior to joining Janus in 2010, Mr. Kerschner 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. Mr. Kerschner 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.
Mr. Kerschner 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. Mr. Kerschner holds the Chartered Financial Analyst designation and has 30 years of financial industry experience.
Products Managed
Articles Written
The long-term opportunity in structured securities
The Securitized Debt team discusses its positive long-term outlook for U.S. structured securities in higher-quality, seasoned and shorter-dated exposures.
After the Ides of March: The Outlook for Mortgages
The outlook for U.S. mortgage-backed securities after March’s liquidity collapse and subsequent stabilization on the back of strong Fed support.
Election Insights: Super Tuesday Split
With no clear Democratic front-runner after the Super Tuesday primaries, coronavirus concerns – more than election uncertainty – is likely to dominate markets.
Low Yield Is Not No Yield: Opportunities in Structured Credit
Our structured credit team highlights attractive aspects of the securitized market, including relatively short durations, high-quality credit ratings and attractive yields
As Bond Volatility Rises, Mortgage-Backed Securities May Provide Defensive Diversification
Portfolio Managers John Kerschner and Nick Childs discuss how MBS can provide diversification in volatile corporate and government bond markets.
From Fast Food to Fitness: The Rise of Whole Business Securitizations (WBS)
Portfolio Manager John Kerschner comments on the emerging WBS market and its potential opportunities for bond investors.
Inverted Yield Curve Signals Caution, Even if Recession Remains Distant
Fixed Income Portfolio Managers John Lloyd and John Kerschner discuss the inverted yield curve and its implications for bond investors.
Risks and Opportunities in Agency MBS
A number of factors are set to influence agency MBS in 2019. Head of U.S. Securitized Products John Kerschner discusses the market’s dynamics and the risks and opportunities on the horizon.