JAAGX VIT Enterprise Portfolio

A differentiated mid-cap growth strategy that takes a moderate approach to an asset class known for the potential for rapid growth

NAV
$82.98
As of 12/04/2019

1-Day Change
$0.57 (0.69%)
As of 12/04/2019

YTD Return
31.45%
As of 12/04/2019

Morningstar Rating

As of 10/31/2019

Overview

ABOUT THIS PORTFOLIO

By taking a moderate approach to an asset class with potential for rapid growth, this mid-cap growth fund has demonstrated lower volatility than the index. Unlike many competitor products that focus on short-term growth rates, this strategy seeks to invest in companies exhibiting sustainable and durable growth.

WHY INVEST IN THIS PORTFOLIO

Smart Growth Approach

The Portfolio’s investment approach focuses on long-duration, sustainable-growth companies with strong competitive advantages and large addressable markets. We seek to avoid companies with rapid but unsustainable, short-term growth profiles.

Deep, Specialized Team

The Portfolio benefits from experienced Portfolio Managers with expertise in mid-cap investing; in-depth fundamental research conducted by a dedicated team of experts exclusively focused on small-mid-cap companies; and the broader support of an insightful team of equity investment professionals.

Growth Potential with Tempered Volatility

The portfolio offers exposure to medium-size companies with resilient business models and is designed to weather a variety of market environments and take on moderately less risk than the index.

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

Brian Demain, CFA

Portfolio Manager

Industry since 1999. Joined Firm in 1999.

Philip Cody Wheaton, CFA

Portfolio Manager | Research Analyst

Industry since 2001. Joined Firm in 2001.

Performance

RETURNS (%) (As of 09/30/2019)
VIT Enterprise Portfolio - Class IS Shares Russell MidCap® Growth Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/13/1993)
VIT Enterprise Portfolio - Class IS Shares 1.09% 27.93% 10.44% 17.64% 15.42% 15.98% 11.32%
Russell MidCap® Growth Index -0.67% 25.23% 5.20% 14.50% 11.12% 14.08% 9.89%
RETURNS (%) (As of 11/30/2019)
VIT Enterprise Portfolio - Class IS Shares Russell MidCap® Growth Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/13/1993)
VIT Enterprise Portfolio - Class IS Shares 4.82% 32.73% 21.67% 18.96% 14.71% 16.24% 11.40%
Russell MidCap® Growth Index 5.70% 33.90% 21.75% 17.04% 11.28% 14.79% 10.11%
CALENDAR YEAR RETURNS (%)
VIT Enterprise Portfolio - Class IS Shares Russell MidCap® Growth Index
 
  2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
VIT Enterprise Portfolio - Class IS Shares 44.83 25.85 -1.42 17.29 32.38 12.52 4.03 12.36 27.42 -0.41
Russell MidCap® Growth Index 46.29 26.38 -1.65 15.81 35.74 11.90 -0.20 7.33 25.27 -4.75

MORNINGSTAR PERCENTILE

(As Of 09/30/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 5 8 2 2 15
Mid-Cap Growth Category|Rank/Count 28/610 49/581 12/553 8/506 18/147
(As Of 10/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 15 11 3 4 15
Mid-Cap Growth Category|Rank/Count 111/627 78/595 14/561 18/514 18/152
GROWTH OF A HYPOTHETICAL INVESTMENT

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

RISK / REWARD
VS. Russell MidCap® Growth Index
3YR 5YR
Information Ratio 0.63 1.12
Alpha 3.99 4.60
Tracking Error 3.67 3.32
Beta 0.87 0.88
R-squared (%) 93.56 94.42
UP/DOWN MARKET CAPTURE (%)
VS. Russell MidCap® Growth Index
3YR 5YR
Up Capture Ratio 96.60 100.41
Down Capture Ratio 76.24 75.39
STANDARD DEVIATION 3YR 5YR
VIT Enterprise Portfolio 12.68 12.33
Russell MidCap® Growth Index 14.04 13.58
SHARPE RATIO 3YR 5YR
VIT Enterprise Portfolio 1.39 1.11
Russell MidCap® Growth Index 1.09 0.73
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 12/31/2018)
INSTITUTIONAL SHARES
Management Fees 0.64%
12b-1 Fees -
Other Expenses 0.08%
Total Gross Expenses 0.72%
Total Net Expenses 0.72%

Portfolio

Index represents the Russell MidCap® Growth Index.

(As of 10/31/2019)
% of Portfolio
Nice Ltd (ADR) 2.61
Constellation Software Inc/Canada 2.40
Global Payments Inc 2.29
Aon PLC 2.12
Microchip Technology Inc 2.05
Boston Scientific Corp 2.05
Sensata Technologies Holding PLC 1.99
Crown Castle International Corp 1.92
TE Connectivity Ltd 1.88
SS&C Technologies Holdings Inc 1.84
Total 21.15
View full holdings
Portfolio Characteristics (As of 10/31/2019)
  PORTFOLIO INDEX
Number of Holdings
Equity Issues
82 401
Market Capitalization
Weighted Average
$18.22B $19.00B
Portfolio Turnover Rate
(1-year trailing)
11.37% -
Price/Earnings Ratio
(1-year forward)
23.41 28.75
Price/Book Ratio
(1-year forward)
5.33 8.93
Earnings Growth Rate
(1-year forward)
8.06% 12.01%

Sector Allocation % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 10/31/2019)
Information Technology 32.79 33.09
Industrials 18.34 17.22
Health Care 16.72 14.81
Financials 10.99 4.49
Consumer Discretionary 7.52 15.41
Real Estate 3.61 2.91
Energy 1.69 1.22
Materials 1.26 2.94
Communication Services 1.20 4.65
Cash & Equivalents 5.88 -
Regional Allocations % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 10/31/2019)
North America 88.98 98.36
Africa/Mideast 2.61 -
Europe 1.57 0.57
Asia/Pacific Ex Japan 0.96 1.07
Cash & Equivalents 5.88 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF PORTFOLIO % OF INDEX % OF PORTFOLIO % OF INDEX (As of 10/31/2019)
$50B to $100B 9.58 3.68
$10B to $50B 50.69 69.94
$5B to $10B 28.20 22.77
$1B to $5B 5.65 3.61
Developed VS Emerging Markets % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 10/31/2019)
U.S. 82.94 98.37
Non-U.S. Developed 11.18 0.99
Cash & Equivalents 5.88 -

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