VIT Overseas Portfolio

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

NAV
$29.61
As of 07/10/2020

1-Day Change
$0.19 (0.65%)
As of 07/10/2020

YTD Return
-6.59%
As of 07/10/2020

Overview

ABOUT THIS PORTFOLIO

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 PORTFOLIO

Flexible International All-Cap Equities

The portfolio managers have the flexibility to invest in 30 to 60 companies outside the U.S. and across the market cap and style spectrum where free-cash-flow growth is believed to be underestimated by the market. The portfolio managers search for both growing companies and attractive valuations.

Differentiated & Uncorrelated Insights

The intersection of independent viewpoints and differentiated perspectives between the portfolio managers and research analysts should lead to potentially greater and more consistent excess returns over time.

Exacting Portfolio Construction

Taking a prudent approach to portfolio construction and risk management, the portfolio managers aim to drive superior risk-adjusted returns over the full market cycle through stock selection in an effort to avoid persistent biases.

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

George P. Maris, CFA

Co-Head of Equities – Americas | Portfolio Manager

Industry since 1998. Joined Firm in 2011.

Julian McManus

Portfolio Manager | Research Analyst

Industry since 1994. Joined Firm in 2004.

Garth C. Yettick, CFA

Portfolio Manager

Industry since 1994. Joined Firm in 1997.

Performance

RETURNS (%) (As of 06/30/2020)
VIT Overseas Portfolio - Class SS Shares MSCI All Country World ex-U.S. Index℠
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/02/1994)
VIT Overseas Portfolio - Class SS Shares 18.45 -11.10 -1.37 1.61 0.15 0.42 7.61
MSCI All Country World ex-U.S. Index℠ 16.12 -11.00 -4.80 1.13 2.26 4.97 -
RETURNS (%) (As of 06/30/2020)
VIT Overseas Portfolio - Class SS Shares MSCI All Country World ex-U.S. Index℠
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/02/1994)
VIT Overseas Portfolio - Class SS Shares 18.45 -11.10 -1.37 1.61 0.15 0.42 7.61
MSCI All Country World ex-U.S. Index℠ 16.12 -11.00 -4.80 1.13 2.26 4.97 -
CALENDAR YEAR RETURNS (%)
VIT Overseas Portfolio - Class SS Shares MSCI All Country World ex-U.S. Index℠
 
  2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
VIT Overseas Portfolio - Class SS Shares 25.02 -32.34 13.18 14.28 -12.10 -8.80 -6.71 30.80 -15.14 26.71
MSCI All Country World ex-U.S. Index℠ 11.15 -13.71 16.83 15.29 -3.87 -5.66 4.50 27.19 -14.20 21.51

MORNINGSTAR PERCENTILE

(As Of 06/30/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 20 25 89 100 8
Foreign Large Blend Category|Rank/Count 176/769 161/700 546/613 495/503 10/142
(As Of 06/30/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 20 25 89 100 8
Foreign Large Blend Category|Rank/Count 176/769 161/700 546/613 495/503 10/142

RETURNS-BASED STATISTICS (As of 05/31/2020 Inst Shares)

RISK / REWARD
VS. MSCI All Country World ex-U.S. Index℠
3YR 5YR
Information Ratio 0.20 -0.40
Alpha 1.01 -1.95
Tracking Error 3.97 5.42
Beta 1.10 1.16
R-squared (%) 95.73 92.38
UP/DOWN MARKET CAPTURE (%)
VS. MSCI All Country World ex-U.S. Index℠
3YR 5YR
Up Capture Ratio 113.20 114.15
Down Capture Ratio 107.05 121.42
STANDARD DEVIATION 3YR 5YR
VIT Overseas Portfolio 17.67 17.78
MSCI All Country World ex-U.S. Index℠ 15.73 14.78
SHARPE RATIO 3YR 5YR
VIT Overseas Portfolio -0.07 -0.14
MSCI All Country World ex-U.S. Index℠ -0.13 -0.02
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 12/31/2019)
SERVICE SHARES
Management Fees 0.64%
12b-1 Fees 0.25%
Other Expenses 0.10%
Total Gross Expenses 0.99%
Total Net Expenses 0.99%

Portfolio

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

Top Holdings (As of 05/31/2020)
% of Portfolio
Tencent Holdings Ltd 5.69
ASML Holding NV 5.17
Alibaba Group Holding Ltd (ADR) 4.81
Takeda Pharmaceutical Co Ltd 4.44
AIA Group Ltd 4.03
Diageo PLC 3.99
Ferguson PLC 3.89
Heineken NV 3.59
AstraZeneca PLC 3.53
GVC Holdings PLC 3.33
Total 42.47
View full holdings
Portfolio Characteristics (As of 05/31/2020)
  PORTFOLIO INDEX
Number of Holdings
Equity Issues
40 2406
Market Capitalization
Weighted Average
$125.65B $76.13B
Portfolio Turnover Rate
(1-year trailing)
17.82% -
Price/Earnings Ratio
(1-year forward)
24.36 21.83
Price/Book Ratio
(1-year forward)
3.44 2.88
Earnings Growth Rate
(1-year forward)
-15.32% -9.20%

Sector Allocation % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 05/31/2020)
Financials 19.10 18.15
Information Technology 13.86 10.52
Consumer Discretionary 13.56 12.26
Health Care 11.04 10.81
Industrials 10.57 11.67
Consumer Staples 8.76 10.20
Communication Services 7.46 7.35
Materials 6.44 7.46
Energy 4.06 5.10
Cash & Equivalents 5.15 -
Regional Allocations % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 05/31/2020)
Europe 43.03 41.90
Asia/Pacific Ex Japan 29.44 29.08
Japan 12.44 17.44
North America 9.94 6.68
Cash & Equivalents 5.15 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF PORTFOLIO % OF INDEX % OF PORTFOLIO % OF INDEX (As of 05/31/2020)
Over $100B 29.87 18.61
$50B to $100B 23.32 16.86
$10B to $50B 26.22 44.04
$5B to $10B 10.26 12.79
$1B to $5B 4.86 6.59
$100M to $250M 0.32
Developed VS Emerging Markets % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 05/31/2020)
Non-U.S. Developed 68.65 72.23
Non-U.S. Emerging 22.31 27.64
U.S. 3.89 0.13
Cash & Equivalents 5.15 -

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