For Financial Professionals in the US

HFOIX International Opportunities Fund

Uniquely managed with a regionally-focused sub-portfolio structure, this strategy utilizes a concentrated approach of high-conviction, best ideas

NAV
$29.49
As of 10/25/2021

1-Day Change
-$0.05 (-0.17%)
As of 10/25/2021

YTD Return
3.73%
As of 10/25/2021

Overview

ABOUT THIS FUND

An international equity fund that seeks long-term growth of capital. The Fund employs a multi-sub-portfolio approach where underlying sub-portfolio managers are able to focus on their highest-conviction ideas.

WHY INVEST IN THIS FUND

Multi-Manager Approach
The Fund employs six geographically- and style-focused sub-portfolios focused on specific areas of sector or geographical expertise. The Fund primarily invests in equities listed on European, Australasian and Far Eastern (EAFE) exchanges.

Concentrated Regional Exposure
Underlying managers select approximately 10 or 15 of their best ideas for each sub-portfolio. By harnessing geographical and specialist expertise, we seek to identify opportunities overlooked by a generalist approach.

Bottom-Up Stock Selection
We believe that stock selection and fundamental research drive returns. The regional asset allocation and currency exposures are actively managed. Changes to the sub-portfolio allocation are made gradually and macro calls are expected to be a smaller component of return relative to stock selection.

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

Dean Cheeseman

Portfolio Manager

Industry since 1995. Joined Firm in 2017.

Paul O’Connor

Head of Multi-Asset | Portfolio Manager

Industry since 1995. Joined Firm in 2013.

Performance

RETURNS (%) (As of 09/30/2021)
International Opportunities Fund - Class I Shares MSCI All Country World ex-U.S. Index℠
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(08/31/2001)
International Opportunities Fund - Class I Shares -3.44 0.77 17.18 6.75 6.83 8.06 8.24
MSCI All Country World ex-U.S. Index℠ -2.99 5.90 23.92 8.03 8.94 7.48 6.53
RETURNS (%) (As of 09/30/2021)
International Opportunities Fund - Class I Shares MSCI All Country World ex-U.S. Index℠
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(08/31/2001)
International Opportunities Fund - Class I Shares -3.44 0.77 17.18 6.75 6.83 8.06 8.24
MSCI All Country World ex-U.S. Index℠ -2.99 5.90 23.92 8.03 8.94 7.48 6.53
CALENDAR YEAR RETURNS (%)
International Opportunities Fund - Class I Shares MSCI All Country World ex-U.S. Index℠
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
International Opportunities Fund - Class I Shares -14.63 21.22 26.71 -1.39 2.21 -3.32 21.53 -18.89 26.71 13.79
MSCI All Country World ex-U.S. Index℠ -13.71 16.83 15.29 -3.87 -5.66 4.50 27.19 -14.20 21.51 10.65

MORNINGSTAR PERCENTILE

(As Of 09/30/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 90 70 82 50 2
Foreign Large Blend Category|Rank/Count 694/778 514/719 572/673 263/533 9/320
(As Of 09/30/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 90 70 82 50 2
Foreign Large Blend Category|Rank/Count 694/778 514/719 572/673 263/533 9/320
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 09/30/2021 Class I Shares)

RISK / REWARD
VS. MSCI All Country World ex-U.S. Index℠
3YR 5YR
Information Ratio -0.34 -0.65
Alpha -1.31 -2.06
Tracking Error 3.75 3.30
Beta 1.03 1.02
R-squared (%) 96.06 95.37
UP/DOWN MARKET CAPTURE (%)
VS. MSCI All Country World ex-U.S. Index℠
3YR 5YR
Up Capture Ratio 99.13 93.33
Down Capture Ratio 104.40 103.30
STANDARD DEVIATION 3YR 5YR
International Opportunities Fund 18.67 15.29
MSCI All Country World ex-U.S. Index℠ 17.73 14.64
SHARPE RATIO 3YR 5YR
International Opportunities Fund 0.30 0.37
MSCI All Country World ex-U.S. Index℠ 0.39 0.53
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/20)
CLASS I SHARES
Management Fees 1.00%
Other Expenses 0.12%
Total Gross Expenses 1.12%
Waivers -0.17%
Total Net Expenses 0.95%

Portfolio

Index represents the MSCI All Country World ex-U.S. Index℠

Top Holdings (As of 09/30/2021)
% of Fund
Novo Nordisk A/S 3.22
Koninklijke DSM NV 3.16
Housing Development Finance Corp Ltd 2.78
Taiwan Semiconductor Manufacturing Co Ltd 2.75
Stellantis NV 2.39
Samsung Electronics Co Ltd 2.35
AIA Group Ltd 2.30
Danone SA 2.21
RWE AG 2.18
UniCredit SpA 2.06
Total 25.40
View Full Holdings
Portfolio Characteristics (As of 09/30/2021)
  FUND INDEX
Number of Holdings
Equity Issues
78 2353
Market Capitalization
Weighted Average
$138.36B $93.67B
Portfolio Turnover Rate
(1-year trailing)
60.74% -
Price/Earnings Ratio
(1-year forward)
21.58 21.48
Price/Book Ratio
(1-year forward)
2.58 3.68
Earnings Growth Rate
(1-year forward)
31.85% 33.46%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 09/30/2021)
Financials 15.15 19.25
Information Technology 14.29 13.19
Health Care 12.09 9.52
Consumer Discretionary 10.76 12.67
Consumer Staples 9.09 8.50
Communication Services 8.84 6.28
Industrials 8.80 12.17
Materials 7.42 7.96
Utilities 3.70 3.01
Real Estate 1.27 2.53
Energy 1.26 4.92
Cash & Equivalents 7.33 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 09/30/2021)
Europe 44.98 41.51
Asia/Pacific Ex Japan 24.02 30.85
Japan 16.55 15.33
North America 4.90 7.18
Latin America 1.39 2.16
Africa/Mideast 0.83 2.97
Cash & Equivalents 7.33 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 09/30/2021)
Over $100B 27.80 25.72
$50B to $100B 16.85 21.63
$10B to $50B 36.74 39.51
$5B to $10B 5.14 9.43
$1B to $5B 3.46 2.60
N/A 2.68 1.11

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