JABLX VIT Balanced Portfolio

For 25 years, this dynamic allocation strategy has delivered our equity and fixed income expertise in a one-stop core solution

NAV
$38.90
As of 12/04/2019

1-Day Change
$0.14 (0.36%)
As of 12/04/2019

YTD Return
19.72%
As of 12/04/2019

Morningstar Rating

As of 10/31/2019

Overview

ABOUT THIS PORTFOLIO

Balanced Portfolio’s dynamic asset allocation strategy has the flexibility to defensively position ahead of market volatility while seeking strong risk-adjusted returns. Unlike many competitor products, where asset allocations are constrained by static targets, the Fund’s asset allocations may vary between 35% to 65% equities depending on market conditions.

WHY INVEST IN THIS PORTFOLIO

Dynamic Asset Allocation
The portfolio managers make allocation decisions based on their view of overall market risk and careful examination of individual security valuations across equity and fixed income markets.

Integrated Research
Our equity and fixed income analysts work side-by-side covering the same global sectors, facilitating deeper analysis of a company’s fundamental outlook and understanding of management’s true intentions.

Seeks Consistent Results
The end result is a multi-asset, core holding portfolio offering the potential for long-term capital appreciation with the flexibility to navigate uncertain and volatile markets.

Equity Allocation Adapting to Market Changes

VIT Balanced Portfolio equity allocation in relation to market volatility (12/31/97 – 9/30/19)

Cboe Volatility Index® or VIX® Index® shows the market’s expectation of 30-day volatility. It is constructed using the implied volatilities of a wide range of S&P 500® index options and is a widely used measure of market risk. The VIX Index volatility methodology is the property of Chicago Board of Options Exchange, which is not affiliated with Janus Henderson.

PORTFOLIO MANAGEMENT

Marc Pinto, CFA

Portfolio Manager

Industry since 1983. Joined Firm in 1994.

Jeremiah Buckley, CFA

Portfolio Manager

Industry since 1998. Joined Firm in 1998.

Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Darrell Watters

Head of U.S. Fundamental Fixed Income | Portfolio Manager

Industry since 1986. Joined Firm in 1993.

Mayur Saigal

Portfolio Manager

Industry since 2002. Joined Firm in 2005.

Performance

RETURNS (%) (As of 09/30/2019)
VIT Balanced Portfolio - Class IS Shares S&P 500® Index Bloomberg Barclays U.S. Aggregate Bond Index Balanced Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/13/1993)
VIT Balanced Portfolio - Class IS Shares 3.03% 16.28% 8.17% 12.52% 8.55% 9.48% 9.91%
S&P 500® Index 1.70% 20.55% 4.25% 13.39% 10.84% 13.24% 9.55%
Bloomberg Barclays U.S. Aggregate Bond Index 2.27% 8.52% 10.30% 2.92% 3.38% 3.75% 5.19%
Balanced Index 1.99% 15.26% 7.41% 8.80% 7.63% 9.11% 7.84%
RETURNS (%) (As of 11/30/2019)
VIT Balanced Portfolio - Class IS Shares S&P 500® Index Bloomberg Barclays U.S. Aggregate Bond Index Balanced Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/13/1993)
VIT Balanced Portfolio - Class IS Shares 4.27% 20.37% 14.90% 13.21% 8.52% 9.64% 9.99%
S&P 500® Index 7.86% 27.63% 16.11% 14.88% 10.98% 13.44% 9.72%
Bloomberg Barclays U.S. Aggregate Bond Index -0.28% 8.79% 10.79% 4.10% 3.08% 3.59% 5.17%
Balanced Index 4.14% 19.09% 14.16% 10.13% 7.57% 9.14% 7.92%
CALENDAR YEAR RETURNS (%)
VIT Balanced Portfolio - Class IS Shares S&P 500® Index
 
  2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
VIT Balanced Portfolio - Class IS Shares 25.89 8.39 1.64 13.62 20.15 8.51 0.62 4.60 18.43 0.68
S&P 500® Index 26.46 15.06 2.11 16.00 32.39 13.69 1.38 11.96 21.83 -4.38

MORNINGSTAR PERCENTILE

(As Of 09/30/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 7 1 4 14 4
Allocation-50% to 70% Equity Category|Rank/Count 39/724 5/701 18/660 56/541 8/210
(As Of 10/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 7 1 4 13 4
Allocation-50% to 70% Equity Category|Rank/Count 53/712 5/689 17/652 55/533 8/209
GROWTH OF A HYPOTHETICAL INVESTMENT

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

RISK / REWARD
VS. S&P 500® Index
3YR 5YR
Information Ratio -0.32 -0.46
Alpha 4.43 1.84
Tracking Error 5.50 5.18
Beta 0.57 0.59
R-squared (%) 94.12 93.75
UP/DOWN MARKET CAPTURE (%)
VS. S&P 500® Index
3YR 5YR
Up Capture Ratio 67.80 63.18
Down Capture Ratio 46.63 54.96
STANDARD DEVIATION 3YR 5YR
VIT Balanced Portfolio 7.06 7.30
S&P 500® Index 12.07 11.92
SHARPE RATIO 3YR 5YR
VIT Balanced Portfolio 1.64 1.01
S&P 500® Index 1.11 0.82
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 12/31/2018)
INSTITUTIONAL SHARES
Management Fees 0.55%
12b-1 Fees -
Other Expenses 0.08%
Total Gross Expenses 0.63%
Total Net Expenses 0.63%

Portfolio

Index represents the S&P 500® Index.

(As of 10/31/2019)
% of Portfolio
Microsoft Corp 4.04
Mastercard Inc 3.03
Alphabet Inc 2.35
Apple Inc 2.24
Costco Wholesale Corp 1.99
US Bancorp 1.97
Boeing Co 1.92
McDonald's Corp 1.89
Home Depot Inc 1.88
UnitedHealth Group Inc 1.77
Total 23.08
View full holdings
Portfolio Characteristics (As of 10/31/2019)
 
Number of Holdings
Equity Issues
64
Number of Holdings
Debt Issues
535
Market Capitalization
Weighted Average
$256.73B
Portfolio Turnover Rate
(1-year trailing)
69.04%
Price/Earnings Ratio
(1-year forward)
21.45
Price/Book Ratio
(1-year forward)
6.49
Earnings Growth Rate
(1-year forward)
6.93%
Weighted Average Maturity
(years)
8.40
Effective Duration
(years)
5.65

Asset Allocation:
Equity Fixed Income Cash & Equivalents
Sector Allocation % OF PORTFOLIO % OF PORTFOLIO (As of 10/31/2019)
Information Technology 16.67
Financials 8.20
Consumer Discretionary 7.82
Health Care 7.62
Industrials 7.56
Consumer Staples 6.19
Communication Services 4.68
Real Estate 1.93
Materials 1.31
Energy 0.99
Credit-Investment Grade 13.95
MBS 9.46
Treasuries 7.82
Credit-High Yield 2.63
CMO 1.31
ABS 0.99
CMBS 0.23
Government Related 0.04
Regional Allocations % OF PORTFOLIO % OF PORTFOLIO (As of 10/31/2019)
North America 98.84
Europe 0.52
Latin America 0.04
Cash & Equivalents 0.60
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF PORTFOLIO % OF PORTFOLIO (As of 10/31/2019)
Over $100B 36.96
$50B to $100B 12.58
$10B to $50B 12.53
$1B to $5B 0.82
N/A 0.08
Developed VS Emerging Markets % OF PORTFOLIO % OF PORTFOLIO (As of 10/31/2019)
U.S. 97.95
Non-U.S. Developed 1.41
Non-U.S. Emerging 0.04
Cash & Equivalents 0.60
MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS % OF PORTFOLIO % OF PORTFOLIO (As of 10/31/2019)
< 1 yr 0.87
1 - 3 yrs 4.33
3 - 5 yrs 8.50
5 - 7 yrs 7.94
7 - 10 yrs 9.89
10 - 20 yrs 0.92
> 20 yrs 3.80
N/A 0.18
Credit Quality of Fixed Income Holdings % OF PORTFOLIO % OF PORTFOLIO (As of 10/31/2019)
Aaa 18.10
Aa 0.18
A 3.27
Baa 11.78
Ba 2.35
B 0.60
NOT RATED 0.15

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