For Financial Professionals in the US

JAPIX Large Cap Value Fund

Defensive-minded specialists aiming to identify undervalued large-cap opportunities

NAV
$15.66
As of 04/09/2021

1-Day Change
$0.08 (0.51%)
As of 04/09/2021

YTD Return
14.31%
As of 04/09/2021

Effective on or about 2/22/21, the Fund is closed to new investors. The Fund will liquidate on or about 4/30/21 and may deviate from its stated investment strategies and policies as it prepares for liquidation.  See the prospectus supplement for further details.

Overview

ABOUT THIS FUND

As defensive value specialists, we look to invest in high-quality companies with strong management teams, stable balance sheets and durable competitive advantages that are trading at attractive valuations. We seek to achieve excess returns over full market cycles, with less risk than our benchmark and peers as measured by standard deviation, beta and down market capture.

WHY INVEST IN THIS FUND

Attractive Reward/Risk
Our disciplined valuation process measures downside risk before upside potential and invests in securities with favorable reward/risk ratios.

High-Conviction Process
The portfolio typically holds between 40 to 60 stocks with business fundamentals considered more important than fluctuations in the wider economy.

Different Than the Benchmark
The benchmark is not used as a starting point for portfolio construction, which should lead to high active share.

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

Kevin Preloger

Portfolio Manager, Team Leader

Industry since 1997. Joined Firm in 2002.

Performance

RETURNS (%) (As of 03/31/2021)
Large Cap Value Fund - Class I Shares Russell 1000® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/31/2008)
Large Cap Value Fund - Class I Shares 12.19 12.19 54.75 10.20 10.69 9.46 11.17
Russell 1000® Value Index 11.26 11.26 56.09 10.96 11.74 10.99 12.38
RETURNS (%) (As of 03/31/2021)
Large Cap Value Fund - Class I Shares Russell 1000® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/31/2008)
Large Cap Value Fund - Class I Shares 12.19 12.19 54.75 10.20 10.69 9.46 11.17
Russell 1000® Value Index 11.26 11.26 56.09 10.96 11.74 10.99 12.38
CALENDAR YEAR RETURNS (%)
Large Cap Value Fund - Class I Shares Russell 1000® Value Index
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Large Cap Value Fund - Class I Shares -0.20 13.33 27.20 11.20 -3.41 12.23 14.57 -8.54 26.48 1.05
Russell 1000® Value Index 0.39 17.51 32.53 13.45 -3.83 17.34 13.66 -8.27 26.54 2.80

MORNINGSTAR PERCENTILE

(As Of 03/31/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 53 56 68 79 77
Large Value Category|Rank/Count 640/1222 616/1181 748/1125 746/978 691/930
(As Of 03/31/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 53 56 68 79 77
Large Value Category|Rank/Count 640/1222 616/1181 748/1125 746/978 691/930
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 02/28/2021 Class I Shares)

RISK / REWARD
VS. Russell 1000® Value Index
3YR 5YR
Information Ratio -0.28 -0.57
Alpha -0.44 -0.77
Tracking Error 2.86 2.57
Beta 0.96 0.95
R-squared (%) 97.97 97.55
UP/DOWN MARKET CAPTURE (%)
VS. Russell 1000® Value Index
3YR 5YR
Up Capture Ratio 92.60 90.89
Down Capture Ratio 95.09 94.95
STANDARD DEVIATION 3YR 5YR
Large Cap Value Fund 19.19 15.58
Russell 1000® Value Index 19.82 16.20
SHARPE RATIO 3YR 5YR
Large Cap Value Fund 0.31 0.60
Russell 1000® Value Index 0.34 0.67
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/2020)
CLASS I SHARES
Management Fees 0.58%
Other Expenses 0.32%
Total Gross Expenses 0.90%
Waivers -0.16%
Total Net Expenses 0.74%

Portfolio

Index represents the Russell 1000® Value Index.

Top Holdings (As of 02/28/2021)
% of Fund
Berkshire Hathaway Inc 3.22
US Bancorp 2.89
Fifth Third Bancorp 2.55
PNC Financial Services Group Inc 2.46
Raytheon Technologies Corp 2.45
Truist Financial Corp 2.43
M&T Bank Corp 2.37
Citigroup Inc 2.35
Corteva Inc 2.33
Comcast Corp 2.29
Total 25.34
View Full Holdings
Portfolio Characteristics (As of 02/28/2021)
  FUND INDEX
Number of Holdings
Equity Issues
61 850
Market Capitalization
Weighted Average
$96.10B $140.85B
Portfolio Turnover Rate
(1-year trailing)
39.00% -
Price/Earnings Ratio
(1-year forward)
18.55 20.91
Price/Book Ratio
(1-year forward)
2.99 3.26
Earnings Growth Rate
(1-year forward)
13.87% 15.30%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 02/28/2021)
Financials 28.75 20.66
Information Technology 12.25 9.59
Health Care 11.48 12.76
Industrials 10.24 13.52
Materials 5.76 4.70
Real Estate 5.76 4.38
Utilities 5.73 4.83
Communication Services 5.40 9.67
Consumer Staples 4.54 6.93
Energy 4.25 5.25
Consumer Discretionary 3.52 7.71
Cash & Equivalents 2.32 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 02/28/2021)
North America 96.31 99.02
Africa/Mideast 1.37 -
Cash & Equivalents 2.32 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 02/28/2021)
Over $100B 31.21 43.09
$50B to $100B 13.17 14.50
$10B to $50B 50.88 32.93
$5B to $10B 2.42 7.40
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 02/28/2021)
U.S. 95.53 99.02
Non-U.S. Developed 2.15 0.80
Cash & Equivalents 2.32 -

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