For Financial Professionals in the US

JDIRX Overseas Fund

Invests in select international companies across market-cap and style spectrum where we believe the market underestimates free-cash-flow growth

NAV
$40.30
As of 09/25/2023

1-Day Change
-$0.24 (-0.59%)
 As of 09/25/2023

YTD Return
2.31%
As of 09/25/2023

Overview

ABOUT THIS FUND

An international equity fund seeking to grow capital by investing with conviction in companies outside the U.S. where the portfolio managers believe 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

High-Conviction, Concentrated Best Ideas: The portfolio managers have the flexibility to invest in 30 to 50 international companies, across the market cap and style spectrum where free-cash-flow growth is believed to be dislocated from market expectations. The portfolio managers invest with no persistent style bias.

Independent & Uncorrelated Insights: Harnessing the intersection of independent viewpoints and differentiated perspectives between the portfolio managers and research analysts seeks to deliver consistent excess returns over time.

Disciplined Portfolio Construction: Taking a prudent approach to portfolio construction and risk management, the portfolio managers aim to translate their conviction into portfolio impact and ensure stock selection is the primary driver of returns.

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)
Overseas Fund - Class R Shares MSCI All Country World ex USA IndexSM
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/02/1994)
Overseas Fund - Class R Shares 2.67 6.52 14.92 8.69 6.37 4.02 7.17
MSCI All Country World ex USA IndexSM 3.82 8.78 11.89 3.99 3.33 4.38 -
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 R 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)
Overseas Fund - Class R Shares MSCI All Country World ex USA IndexSM
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/02/1994)
Overseas Fund - Class R Shares 1.34 7.57 15.35 12.69 6.57 4.01 7.25
MSCI All Country World ex USA IndexSM 2.44 9.47 12.72 7.23 3.52 4.75 -
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 R 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 (%)
Overseas Fund - Class R Shares MSCI All Country World ex USA IndexSM
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Overseas Fund - Class R Shares -9.30 12.45 15.99 26.39 -15.84 30.54 -7.40 -8.98 -14.17 11.53
MSCI All Country World ex USA IndexSM -16.00 7.82 10.65 21.51 -14.20 27.19 4.50 -5.66 -3.87 15.29

MORNINGSTAR PERCENTILE

(As Of 06/30/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 58 4 7 86 16
Foreign Large Blend | Rank/Count 421/735 25/693 45/653 452/520 21/119
(As Of 08/31/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 59 5 6 79 16
Foreign Large Blend | Rank / Count 430/733 31/690 41/649 401/513 21/113

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

RISK / REWARD
VS. MSCI ACWI Ex USA NR Index		 3YR 5YR
Information Ratio 1.17 0.79
Alpha 5.08 3.63
Tracking Error 4.46 4.53
Beta 1.09 1.10
R-squared (%) 94.99 95.62
UP/DOWN MARKET CAPTURE (%)
VS. MSCI ACWI Ex USA NR Index		 3YR 5YR
Up Capture Ratio 122.45 122.22
Down Capture Ratio 97.15 103.08
STANDARD DEVIATION 3YR 5YR
Overseas Fund 19.15 19.91
MSCI ACWI Ex USA NR Index 17.15 17.65
SHARPE RATIO 3YR 5YR
Overseas Fund 0.40 0.27
MSCI ACWI Ex USA NR Index 0.13 0.09
ANNUAL FEES & EXPENSES (As of the most recent prospectus)
CLASS R SHARES
Management Fees 0.76%
12b-1 Fees 0.50%
Other Expenses 0.30%
Total Gross Expenses 1.56%
Waivers 0.00%
Total Net Expenses 1.56%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through at least March 31, 2024. C and R share classes are also subject to a non-standard expense waiver, contractually agreed to for at least a one-year period commencing on June 16, 2023. These contractual waivers may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

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

Top Holdings (As of 08/31/2023)
% of Fund
BAE Systems PLC 4.75
Taiwan Semiconductor Manufacturing Co Ltd 4.71
BNP Paribas SA 4.42
Deutsche Telekom AG 4.11
Teck Resources Ltd 3.80
Canadian Natural Resources Ltd 3.71
ASML Holding NV 3.60
Samsonite International SA 3.45
Dai-ichi Life Holdings Inc 3.26
Erste Group Bank AG 3.18
Total 38.99
View full holdings
Portfolio Characteristics (As of 08/31/2023)
  FUND INDEX
Number of Holdings
Equity Issues		 47 2306
Market Capitalization
Weighted Average		 $82.06B $69.29B
Portfolio Turnover Rate
(1-year trailing)		 39.60% -
Price/Earnings Ratio
(1-year forward)		 11.92 12.60
Price/Book Ratio
 1.80 1.75
Earnings Growth Rate
(1-year forward)		 9.69% 13.56%
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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