JGBIX Global Bond Fund

A dynamic global bond fund seeking risk-adjusted returns and capital preservation

NAV
$9.66
As of 01/23/2020

1-Day Change
$0.02 (0.21%)
As of 01/23/2020

YTD Return
0.52%
As of 01/23/2020

Overview

ABOUT THIS FUND

This dynamic, global multi-sector fixed income fund seeks risk-adjusted returns and capital preservation.

WHY INVEST IN THIS FUND

Dynamic Core Global Bond Holding
The Fund emphasizes risk-adjusted returns and capital preservation while seeking to identify the best opportunities across fixed income sectors globally.

Integrated Research
Partnership and fluid communication between fixed income and equity analysts promote idea generation. Credit research emphasizes free cash flow generation, quality of management and security valuation.

Sophisticated Risk Management
Our proprietary fixed income portfolio and risk-management system, Quantum Global, is integrated into the investment process at each step. We identify and measure the sources of risk in the portfolio at multiple levels to confirm that the portfolio is positioned as intended.

Knowledge. Shared

At Janus Henderson, we believe in the sharing of expert insight for better investment and business decisions. We call this ethos Knowledge. Shared.

PORTFOLIO MANAGEMENT

Chris Diaz, CFA

Co-Head of Global Bonds | Portfolio Manager

Industry since 1997. Joined Firm in 2011.

Andrew Mulliner, CFA

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Performance

RETURNS (%) (As of 12/31/2019)
Global Bond Fund - Class I Shares Bloomberg Barclays Global Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/28/2010)
Global Bond Fund - Class I Shares -0.52 5.95 5.95 3.60 1.29 - 2.76
Bloomberg Barclays Global Aggregate Bond Index 0.49 6.84 6.84 4.27 2.31 2.48 2.31
RETURNS (%) (As of 12/31/2019)
Global Bond Fund - Class I Shares Bloomberg Barclays Global Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/28/2010)
Global Bond Fund - Class I Shares -0.52 5.95 5.95 3.60 1.29 - 2.76
Bloomberg Barclays Global Aggregate Bond Index 0.49 6.84 6.84 4.27 2.31 2.48 2.31
CALENDAR YEAR RETURNS (%)
Global Bond Fund - Class I Shares Bloomberg Barclays Global Aggregate Bond Index
 
  2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Global Bond Fund - Class I Shares - - 6.67 8.28 -1.95 5.81 -4.30 0.20 7.44 -2.32
Bloomberg Barclays Global Aggregate Bond Index - - 5.64 4.32 -2.60 0.59 -3.15 2.09 7.39 -1.20

MORNINGSTAR PERCENTILE

(As Of 12/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 67 68 70 - 26
World Bond Category|Rank/Count 158/214 138/195 143/192 -/- 50/170
(As Of 12/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 67 68 70 - 26
World Bond Category|Rank/Count 158/214 138/195 143/192 -/- 50/170
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 12/31/2019 Class I Shares)

RISK / REWARD
VS. Bloomberg Barclays Global Aggregate Bond Index
3YR 5YR
Information Ratio -0.46 -0.58
Alpha -1.14 -0.85
Tracking Error 1.44 1.75
Beta 1.12 0.94
R-squared (%) 89.53 85.68
UP/DOWN MARKET CAPTURE (%)
VS. Bloomberg Barclays Global Aggregate Bond Index
3YR 5YR
Up Capture Ratio 102.36 85.34
Down Capture Ratio 123.55 99.11
STANDARD DEVIATION 3YR 5YR
Global Bond Fund 4.25 4.57
Bloomberg Barclays Global Aggregate Bond Index 3.58 4.49
SHARPE RATIO 3YR 5YR
Global Bond Fund 0.46 0.05
Bloomberg Barclays Global Aggregate Bond Index 0.73 0.28
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/2019)
CLASS I SHARES
Management Fees 0.60%
12b-1 Fees -
Other Expenses 0.28%
Total Gross Expenses 0.88%
Waivers -0.19%
Total Net Expenses 0.69%

Portfolio

Index represents the Bloomberg Barclays Global Aggregate Bond Index.

Top Holdings (As of 12/31/2019)
% of Fund
Mexican Bonos, 8.00%, 12/07/23 5.44
Japanese Government CPI Linked Bond, 0.10%, 03/10/29 4.79
United States Treasury Note/Bond, 3.38%, 11/15/48 4.03
United States Treasury Note/Bond, 1.75%, 07/31/21 3.62
Ginnie Mae, 3.50%, 01/21/20 3.47
Spain Government Bond, 3.80%, 04/30/24 3.35
United States Treasury Note/Bond, 2.12%, 05/31/21 3.27
United Kingdom Gilt, 1.62%, 10/22/28 3.08
United States Treasury Note/Bond, 1.75%, 07/15/22 3.03
Sweden Government Bond, 3.50%, 03/30/39 3.01
Total 37.09
View full holdings
Portfolio Characteristics (As of 12/31/2019)
  FUND INDEX
Number of Holdings
Debt Issues
121 24690
Portfolio Turnover Rate
(1-year trailing)
182.85% -
Weighted Average Maturity
(years)
11.63 10.93
Effective Duration
(years)
8.49 7.08

Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 12/31/2019)
Treasuries 63.25 53.65
Inflation Linked 12.41 -
MBS 10.21 11.00
Government Related 5.21 12.34
Credit-Investment Grade 4.88 18.95
ABS 2.05 0.23
CMO 1.39 -
Cash & Equivalents 0.60 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 12/31/2019)
North America 47.06 42.35
Europe 28.27 29.51
Japan 8.64 15.99
Latin America 8.05 1.13
Asia/Pacific Ex Japan 7.38 8.27
Cash & Equivalents 0.60 -
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 12/31/2019)
Non-U.S. Developed 44.52 49.81
U.S. 38.99 39.05
Non-U.S. Emerging 15.89 9.11
Cash & Equivalents 0.60 -
MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 12/31/2019)
< 1 yr 1.55 0.85
1 - 3 yrs 16.64 21.28
3 - 5 yrs 19.52 17.12
5 - 7 yrs 9.37 12.09
7 - 10 yrs 20.58 13.36
10 - 20 yrs 11.60 13.02
> 20 yrs 20.14 22.28
Credit Quality of Fixed Income Holdings % OF FUND % of Index % OF FUND % of Index (As of 12/31/2019)
Aaa 50.69 38.81
Aa 8.89 15.12
A 27.90 30.42
Baa 11.92 15.64

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