JGBIX Global Bond Fund

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

NAV
$9.64
As of 11/21/2019

1 Day Change
-$0.02 (-0.20%)
As of 11/21/2019

YTD Return
5.98%
As of 11/21/2019

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 09/30/2019)
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 1.33% 6.51% 7.17% 1.48% 1.33% - 2.90%
Bloomberg Barclays Global Aggregate Bond Index 0.71% 6.32% 7.60% 1.59% 1.99% 2.34% 2.32%
RETURNS (%) (As of 10/31/2019)
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 2.17% 7.09% 9.29% 2.46% 1.48% - 2.94%
Bloomberg Barclays Global Aggregate Bond Index 1.67% 7.03% 9.54% 2.77% 2.13% 2.36% 2.37%
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 09/30/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 33 49 53 - 16
World Bond Category|Rank/Count 76/218 103/195 109/192 -/- 31/169
(As Of 10/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 35 54 53 - 18
World Bond Category|Rank/Count 85/217 112/195 110/192 -/- 34/169
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 10/31/2019 Class I Shares)

RISK / REWARD
VS. Bloomberg Barclays Global Aggregate Bond Index
3YR 5YR
Information Ratio -0.22 -0.37
Alpha -0.49 -0.48
Tracking Error 1.41 1.76
Beta 1.07 0.93
R-squared (%) 92.02 85.29
UP/DOWN MARKET CAPTURE (%)
VS. Bloomberg Barclays Global Aggregate Bond Index
3YR 5YR
Up Capture Ratio 103.98 86.06
Down Capture Ratio 112.30 93.47
STANDARD DEVIATION 3YR 5YR
Global Bond Fund 4.85 4.53
Bloomberg Barclays Global Aggregate Bond Index 4.34 4.49
SHARPE RATIO 3YR 5YR
Global Bond Fund 0.18 0.11
Bloomberg Barclays Global Aggregate Bond Index 0.28 0.25
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.

(As of 10/31/2019)
% of Fund
Mexican Bonos, 8.00%, 12/07/23 5.35
Japanese Government CPI Linked Bond, 0.10%, 03/10/29 4.70
United States Treasury Note/Bond, 1.75%, 07/15/22 4.59
United States Treasury Note/Bond, 2.50%, 01/31/21 4.13
United States Treasury Note/Bond, 2.12%, 05/31/21 4.13
United States Treasury Note/Bond, 3.38%, 11/15/48 4.12
New Zealand Government Bond, 3.00%, 04/20/29 3.40
Spain Government Bond, 3.80%, 04/30/24 3.25
United States Treasury Note/Bond, 2.38%, 05/15/29 3.03
United States Treasury Note/Bond, 2.50%, 12/31/20 3.03
Total 39.73
View full holdings
Portfolio Characteristics (As of 10/31/2019)
  FUND INDEX
Number of Holdings
Debt Issues
70 24440
Portfolio Turnover Rate
(1-year trailing)
183.72% -
Weighted Average Maturity
(years)
10.51 11.00
Effective Duration
(years)
8.38 7.11

Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 10/31/2019)
Treasuries 79.00 53.93
Inflation Linked 5.67 -
Government Related 5.06 12.04
Credit-Investment Grade 4.75 18.93
ABS 2.06 0.23
CMO 1.42 -
Credit-High Yield 0.32 0.01
Cash & Equivalents 1.72 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 10/31/2019)
North America 44.74 42.63
Europe 27.95 29.92
Asia/Pacific Ex Japan 9.05 7.55
Japan 8.58 16.00
Latin America 7.96 1.13
Cash & Equivalents 1.72 -
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 10/31/2019)
Non-U.S. Developed 48.92 50.23
U.S. 36.87 39.33
Non-U.S. Emerging 12.49 8.38
Cash & Equivalents 1.72 -
MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 10/31/2019)
< 1 yr 1.82 0.87
1 - 3 yrs 19.45 21.19
3 - 5 yrs 22.66 16.89
5 - 7 yrs 8.64 12.02
7 - 10 yrs 18.27 13.35
10 - 20 yrs 10.50 13.20
> 20 yrs 16.94 22.48
Credit Quality of Fixed Income Holdings % OF FUND % of Index % OF FUND % of Index (As of 10/31/2019)
Aaa 49.64 39.19
Aa 12.19 15.33
A 24.43 29.71
Baa 11.70 15.76
Ba 0.32 0.01

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