For Financial Professionals in the US

JORIX 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
$16.69
As of 09/25/2023

1-Day Change
-$0.05 (-0.30%)
 As of 09/25/2023

YTD Return
5.57%
As of 09/25/2023

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

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.

View Our Insights

PORTFOLIO MANAGEMENT

Julian McManus

Julian McManus

Portfolio Manager | Research Analyst

Industry since 1994. Joined Firm in 2004.

Performance

RETURNS (%) (As of 08/31/2023)
Global Select Fund - Class S Shares MSCI All Country World IndexSM
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(06/30/2000)
Global Select Fund - Class S Shares 6.90 9.80 13.13 9.45 7.58 8.89 4.31
MSCI All Country World IndexSM 6.61 14.80 13.95 7.24 7.46 8.56 5.17
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
Performance for Class S Shares that includes periods prior to 7/6/09 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

RETURNS (%) (As of 06/30/2023)
Global Select Fund - Class S Shares MSCI All Country World IndexSM
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(06/30/2000)
Global Select Fund - Class S Shares 2.40 8.10 14.05 13.22 8.07 9.10 4.27
MSCI All Country World IndexSM 6.18 13.93 16.53 11.00 8.10 8.76 5.18
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
Performance for Class S Shares that includes periods prior to 7/6/09 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Calendar Year Returns (%)
Global Select Fund - Class S Shares MSCI All Country World IndexSM
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Global Select Fund - Class S Shares -10.41 15.51 15.52 26.70 -10.23 30.73 2.98 -4.82 6.61 26.76
MSCI All Country World IndexSM -18.36 18.54 16.25 26.60 -9.41 23.97 7.86 -2.36 4.16 22.80

MORNINGSTAR PERCENTILE

(As Of 06/30/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 64 10 36 30 88
Global Large-Stock Blend | Rank/Count 244/366 36/350 114/322 64/244 81/90
(As Of 08/31/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 50 13 32 30 88
Global Large-Stock Blend | Rank / Count 197/365 43/349 101/321 64/247 81/90
GROWTH OF A HYPOTHETICAL INVESTMENT
Source: Morningstar, Inc.
This graph compares the performance of a hypothetical $10,000 investment in the fund, the fund’s Morningstar category average and its benchmark(s).

RETURNS-BASED STATISTICS (As of 08/31/2023 Class I Shares)

RISK / REWARD
VS. MSCI AC World NR Index		 3YR 5YR
Information Ratio 0.46 0.12
Alpha 2.74 0.53
Tracking Error 5.70 5.57
Beta 1.01 1.08
R-squared (%) 90.07 93.40
UP/DOWN MARKET CAPTURE (%)
VS. MSCI AC World NR Index		 3YR 5YR
Up Capture Ratio 109.66 110.11
Down Capture Ratio 98.08 105.31
STANDARD DEVIATION 3YR 5YR
Global Select Fund 18.05 20.15
MSCI AC World NR Index 17.01 17.99
SHARPE RATIO 3YR 5YR
Global Select Fund 0.46 0.32
MSCI AC World NR Index 0.32 0.32
ANNUAL FEES & EXPENSES (As of the most recent prospectus)
CLASS S SHARES
Management Fees 0.64%
12b-1 Fees 0.25%
Other Expenses 3.08%
Total Gross Expenses 3.97%
Waivers -2.64%
Total Net Expenses 1.33%
Net expense ratios reflect the expense waiver, if any, contractually agreed to for at least a one-year period commencing on January 27, 2023. This contractual waiver may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

Index represents the MSCI All Country World Index℠.

Top Holdings (As of 08/31/2023)
% of Fund
Microsoft Corp 5.45
Taiwan Semiconductor Manufacturing Co Ltd 4.38
Marathon Petroleum Corp 3.99
BAE Systems PLC 3.72
Teck Resources Ltd 3.20
Vistra Corp 2.70
Ferguson PLC 2.68
Canadian Natural Resources Ltd 2.44
Liberty Media Corp-Liberty Formula One 2.43
Entain PLC 2.41
Total 33.40
View full holdings
Portfolio Characteristics (As of 08/31/2023)
  FUND INDEX
Number of Holdings
Equity Issues		 60 2934
Market Capitalization
Weighted Average		 $238.83B $415.26B
Portfolio Turnover Rate
(1-year trailing)		 52.11% -
Price/Earnings Ratio
(1-year forward)		 13.41 16.10
Price/Book Ratio
 2.47 2.71
Earnings Growth Rate
(1-year forward)		 14.19% 15.66%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 08/31/2023)
Regional Allocation % OF FUND % of Index % OF FUND % of Index (As of 08/31/2023)
Market Capitalization Range of Equity Holdings % OF FUND % of Index % OF FUND % of Index (As of 08/31/2023)
Developed vs Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 08/31/2023)

Documents

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