JORFX Global Select Fund

By investing in companies across the market-cap and style spectrum, we seek to deliver risk-adjusted returns that are consistently good, not sporadically great

NAV
$15.70
As of 11/14/2019

1 Day Change
-$0.01 (-0.06%)
As of 11/14/2019

YTD Return
20.49%
As of 11/14/2019

Overview

ABOUT THIS FUND

A global equity fund seeking to grow capital by investing with conviction in companies worldwide where the portfolio manager believes the market underestimates free-cash-flow growth. The Fund considers both growth and value criteria as it seeks to deliver strong, risk-adjusted returns over the long term, regardless of prevailing market conditions.

WHY INVEST IN THIS FUND

Flexible Global All-Cap Equities

The portfolio manager has the flexibility to invest in 40 to 70 companies across the globe, market cap and style spectrum where free-cash-flow growth is believed to be underestimated by the market. The portfolio manager searches for both growing companies and attractive valuations.

Differentiated Insights

The intersection of independent viewpoints and differentiated perspectives between the portfolio manager and research analysts should lead to potentially greater and more consistent excess returns over time.

Exacting Portfolio Construction

Taking a prudent approach to portfolio construction and risk management, the portfolio manager aims to drive superior risk-adjusted returns over the full market cycle through stock selection in an effort to avoid persistent biases.

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

George P. Maris, CFA

Co-Head of Equities – Americas | Portfolio Manager

Industry since 1998. Joined Firm in 2011.

Julian McManus

Portfolio Manager | Research Analyst

Industry since 1994. Joined Firm in 2004.

Garth C. Yettick, CFA

Portfolio Manager | Research Analyst

Industry since 1994. Joined Firm in 1997.

Performance

RETURNS (%) (As of 09/30/2019)
Global Select Fund - Class I Shares MSCI All Country World Index℠
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(06/30/2000)
Global Select Fund - Class I Shares 0.54% 15.04% -0.39% 11.46% 6.69% 7.32% 3.44%
MSCI All Country World Index℠ -0.03% 16.20% 1.38% 9.71% 6.65% 8.35% 4.39%
RETURNS (%) (As of 10/31/2019)
Global Select Fund - Class I Shares MSCI All Country World Index℠
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(06/30/2000)
Global Select Fund - Class I Shares 4.10% 18.88% 12.30% 13.09% 7.05% 8.04% 3.60%
MSCI All Country World Index℠ 2.41% 19.38% 12.59% 11.33% 7.08% 8.81% 4.52%
CALENDAR YEAR RETURNS (%)
Global Select Fund - Class I Shares MSCI All Country World Index℠
 
  2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Global Select Fund - Class I Shares 54.74 20.39 -17.88 4.40 27.17 7.13 -4.43 3.48 31.20 -9.67
MSCI All Country World Index℠ 34.63 12.67 -7.35 16.13 22.80 4.16 -2.36 7.86 23.97 -9.42

MORNINGSTAR PERCENTILE

(As Of 09/30/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 62 19 46 72 80
World Large Stock Category|Rank/Count 574/891 161/793 331/700 384/515 210/267
(As Of 10/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 48 21 42 70 79
World Large Stock Category|Rank/Count 443/886 192/794 309/701 368/517 208/268
GROWTH OF A HYPOTHETICAL INVESTMENT

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

RISK / REWARD
VS. MSCI All Country World Index℠
3YR 5YR
Information Ratio 0.49 -0.01
Alpha 0.64 -0.52
Tracking Error 3.63 4.00
Beta 1.10 1.09
R-squared (%) 92.82 91.76
UP/DOWN MARKET CAPTURE (%)
VS. MSCI All Country World Index℠
3YR 5YR
Up Capture Ratio 111.09 105.67
Down Capture Ratio 104.68 107.70
STANDARD DEVIATION 3YR 5YR
Global Select Fund 12.87 13.41
MSCI All Country World Index℠ 11.27 11.75
SHARPE RATIO 3YR 5YR
Global Select Fund 0.90 0.45
MSCI All Country World Index℠ 0.87 0.52
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2018)
CLASS I SHARES
Management Fees 0.64%
12b-1 Fees -
Other Expenses 0.13%
Total Gross Expenses 0.77%
Waivers 0.00%
Total Net Expenses 0.77%

Portfolio

Index represents the MSCI All Country World Index℠.

(As of 10/31/2019)
% of Fund
NRG Energy Inc 4.35
Citigroup Inc 4.04
Coca-Cola Co 3.82
Alibaba Group Holding Ltd (ADR) 3.61
Microsoft Corp 3.18
Goldman Sachs Group Inc 3.13
PulteGroup Inc 2.91
Safran SA 2.59
MGIC Investment Corp 2.42
Parker-Hannifin Corp 2.38
Total 32.43
View full holdings
Portfolio Characteristics (As of 10/31/2019)
  FUND INDEX
Number of Holdings
Equity Issues
59 2853
Market Capitalization
Weighted Average
$144.97B $170.42B
Portfolio Turnover Rate
(1-year trailing)
29.86% -
Price/Earnings Ratio
(1-year forward)
19.17 20.10
Price/Book Ratio
(1-year forward)
3.80 3.39
Earnings Growth Rate
(1-year forward)
5.70% 4.61%

Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 10/31/2019)
Financials 20.16 16.75
Consumer Discretionary 17.25 10.85
Industrials 14.03 10.48
Information Technology 13.36 16.54
Health Care 11.31 11.57
Consumer Staples 4.95 8.35
Utilities 4.34 3.42
Energy 4.31 5.30
Communication Services 4.24 8.73
Materials 3.60 4.70
Cash & Equivalents 2.45 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 10/31/2019)
North America 54.61 58.30
Asia/Pacific Ex Japan 17.49 12.15
Europe 17.17 19.54
Japan 8.28 7.42
Cash & Equivalents 2.45 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 10/31/2019)
Over $100B 36.14 37.94
$50B to $100B 21.44 16.80
$10B to $50B 27.73 35.04
$5B to $10B 6.26 7.30
$1B to $5B 5.29 2.31
$500M to $1B 0.33
N/A 0.36 0.61
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 10/31/2019)
U.S. 50.61 55.31
Non-U.S. Developed 33.38 32.96
Non-U.S. Emerging 13.56 11.73
Cash & Equivalents 2.45 -

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