Please ensure Javascript is enabled for purposes of website accessibility Flexible Bond Managed Account - Janus Henderson Investors - US Advisor
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For Financial Professionals in the US

Flexible Bond Managed Account

A flexible core plus fixed income portfolio that leverages a research-driven investment process in seeking to identify the best opportunities across fixed income sectors

Overview

About This Portfolio

Using our broad global research capabilities, we strive to exploit fixed income market inefficiencies by building a structural foundation that we believe serves as a better starting point than traditional benchmarks. We aim to generate additional alpha through sector rotation and security selection and by seeking to take the right amount of risk at each point in the cycle.

Why Invest

Our Team
A culture of collaboration, global integration and a research-first mentality is the cornerstone to our team’s process.

Disciplined Risk Budgeting
We target repeatable performance by building a structural foundation of more optimal allocations designed to serve as a better starting point than traditional benchmarks.

High Conviction
We dynamically allocate risk across market cycles and invest with conviction, with bottom-up research expected to drive excess returns.

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

RETURNS (%) (As of 03/31/2025)
Composite Gross Composite Net Bloomberg U.S. Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/1993)
Composite Gross 2.71 2.71 5.35 0.91 1.34 2.22 5.94
Composite Net 2.33 2.33 3.80 -0.58 -0.16 0.71 4.38
Bloomberg U.S. Aggregate Bond Index 2.78 2.78 4.88 0.52 -0.40 1.46 4.53

Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. All returns reflect the reinvestment of dividends and other earnings.

The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fees and other expenses as described in the individual contract and, where applicable, Form ADV Part 2A.
Net returns are calculated by subtracting the highest applicable Managed Account fee from the pure gross or gross composite return. The Managed Account fee includes all charges for trading costs, portfolio management, custody and other administrative fees. Actual fees may vary dep ending on, among other things, the applicable fee schedule and portfolio size. The fees are available on request and may be found in Form ADV Part 2A.

Net returns are calculated by subtracting the highest applicable Managed Account fee (3.00% annually, or 0.25% monthly) from the pure gross or gross composite return. The Managed Account fee includes all charges for trading costs, portfolio management, custody and other administrative fees. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size. The fees are available on request and may be found in Form ADV Part 2A.

RETURNS (%) (As of 04/30/2025)
Composite Gross Composite Net Bloomberg U.S. Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/1993)
Composite Gross 2.21 2.89 8.19 2.20 0.67 2.26 5.93
Composite Net 1.84 2.38 6.60 0.69 -0.82 0.75 4.37
Bloomberg U.S. Aggregate Bond Index 2.64 3.18 8.02 1.95 -0.67 1.54 4.53

Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. All returns reflect the reinvestment of dividends and other earnings.

The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fees and other expenses as described in the individual contract and, where applicable, Form ADV Part 2A.
Net returns are calculated by subtracting the highest applicable Managed Account fee from the pure gross or gross composite return. The Managed Account fee includes all charges for trading costs, portfolio management, custody and other administrative fees. Actual fees may vary dep ending on, among other things, the applicable fee schedule and portfolio size. The fees are available on request and may be found in Form ADV Part 2A.

Net returns are calculated by subtracting the highest applicable Managed Account fee (3.00% annually, or 0.25% monthly) from the pure gross or gross composite return. The Managed Account fee includes all charges for trading costs, portfolio management, custody and other administrative fees. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size. The fees are available on request and may be found in Form ADV Part 2A.

Calendar Year Returns (%)
Composite Gross Composite Net Bloomberg U.S. Aggregate Bond Index
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Composite Gross 2.02 6.11 -13.18 -0.32 11.25 10.33 -0.59 4.19 3.06 0.77
Composite Net 0.51 4.55 -14.48 -1.80 9.62 8.71 -2.06 2.66 1.54 -0.72
Bloomberg U.S. Aggregate Bond Index 1.25 5.53 -13.01 -1.54 7.51 8.72 0.01 3.54 2.65 0.55

Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. All returns reflect the reinvestment of dividends and other earnings.

The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fees and other expenses as described in the individual contract and, where applicable, Form ADV Part 2A.
Net returns are calculated by subtracting the highest applicable Managed Account fee from the pure gross or gross composite return. The Managed Account fee includes all charges for trading costs, portfolio management, custody and other administrative fees. Actual fees may vary dep ending on, among other things, the applicable fee schedule and portfolio size. The fees are available on request and may be found in Form ADV Part 2A.

Net returns are calculated by subtracting the highest applicable Managed Account fee (3.00% annually, or 0.25% monthly) from the pure gross or gross composite return. The Managed Account fee includes all charges for trading costs, portfolio management, custody and other administrative fees. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size. The fees are available on request and may be found in Form ADV Part 2A.

Returns-Based Statistics (As of 04/30/2025)

RISK / REWARD
VS. Bloomberg US Aggregate Bond		 3YR 5YR
Information Ratio 0.38 1.35
Alpha 0.24 1.42
Tracking Error 0.64 1.00
Beta 1.00 1.02
R-squared (%) 99.23 97.65
UP/DOWN MARKET CAPTURE (%)
Bloomberg US Aggregate Bond		 3YR 5YR
Up Capture Ratio 99.52 112.63
Down Capture Ratio 97.18 95.79
STANDARD DEVIATION 3YR 5YR
Flexible Bond Managed Account 7.35 6.51
Bloomberg US Aggregate Bond 7.32 6.34
SHARPE RATIO 3YR 5YR
Flexible Bond Managed Account -0.31 -0.31
Bloomberg US Aggregate Bond -0.34 -0.52

Documents

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Our intellectual capital is readily available and central to our Knowledge Shared approach"
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