JAIGX 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
$31.80
As of 12/04/2019

1-Day Change
$0.13 (0.41%)
As of 12/04/2019

YTD Return
20.42%
As of 12/04/2019

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 | Research Analyst

Industry since 1994. Joined Firm in 1997.

Performance

RETURNS (%) (As of 09/30/2019)
VIT Overseas Portfolio - Class IS Shares MSCI All Country World ex-U.S. Index℠
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/02/1994)
VIT Overseas Portfolio - Class IS Shares -1.69% 12.43% -3.20% 6.75% -0.42% 0.91% 7.99%
MSCI All Country World ex-U.S. Index℠ -1.80% 11.56% -1.23% 6.33% 2.90% 4.45% -
RETURNS (%) (As of 11/30/2019)
VIT Overseas Portfolio - Class IS Shares MSCI All Country World ex-U.S. Index℠
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/02/1994)
VIT Overseas Portfolio - Class IS Shares 11.76% 21.29% 14.93% 10.61% 1.57% 1.74% 8.25%
MSCI All Country World ex-U.S. Index℠ 7.09% 16.47% 11.20% 9.24% 3.85% 4.74% -
CALENDAR YEAR RETURNS (%)
VIT Overseas Portfolio - Class IS Shares MSCI All Country World ex-U.S. Index℠
 
  2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
VIT Overseas Portfolio - Class IS Shares 79.56 25.31 -32.17 13.47 14.56 -11.87 -8.59 -6.45 31.12 -14.94
MSCI All Country World ex-U.S. Index℠ 41.45 11.15 -13.71 16.83 15.29 -3.87 -5.66 4.50 27.19 -14.20

MORNINGSTAR PERCENTILE

(As Of 09/30/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 67 15 99 99 4
Foreign Large Blend Category|Rank/Count 461/738 92/683 583/595 491/503 8/142
(As Of 10/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 35 24 99 99 4
Foreign Large Blend Category|Rank/Count 247/741 133/689 585/598 494/506 8/144

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

RISK / REWARD
VS. MSCI All Country World ex-U.S. Index℠
3YR 5YR
Information Ratio 0.12 -0.52
Alpha -0.37 -3.46
Tracking Error 3.92 5.98
Beta 1.12 1.21
R-squared (%) 92.59 89.00
UP/DOWN MARKET CAPTURE (%)
VS. MSCI All Country World ex-U.S. Index℠
3YR 5YR
Up Capture Ratio 108.26 111.20
Down Capture Ratio 108.01 128.90
STANDARD DEVIATION 3YR 5YR
VIT Overseas Portfolio 13.42 16.12
MSCI All Country World ex-U.S. Index℠ 11.50 12.54
SHARPE RATIO 3YR 5YR
VIT Overseas Portfolio 0.52 -0.02
MSCI All Country World ex-U.S. Index℠ 0.57 0.23
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 12/31/2018)
INSTITUTIONAL SHARES
Management Fees 0.49%
12b-1 Fees -
Other Expenses 0.11%
Total Gross Expenses 0.60%
Total Net Expenses 0.60%

Portfolio

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

(As of 10/31/2019)
% of Portfolio
Alibaba Group Holding Ltd (ADR) 4.88
Safran SA 4.36
AIA Group Ltd 4.25
ASML Holding NV 4.09
Diageo PLC 4.03
BNP Paribas SA 3.85
Sony Corp 3.62
Takeda Pharmaceutical Co Ltd 3.54
Heineken NV 3.42
Tencent Holdings Ltd 3.30
Total 39.34
View full holdings
Portfolio Characteristics (As of 10/31/2019)
  PORTFOLIO INDEX
Number of Holdings
Equity Issues
42 2217
Market Capitalization
Weighted Average
$107.22B $70.77B
Portfolio Turnover Rate
(1-year trailing)
24.20% -
Price/Earnings Ratio
(1-year forward)
18.57 18.43
Price/Book Ratio
(1-year forward)
3.60 2.42
Earnings Growth Rate
(1-year forward)
4.57% 4.64%

Sector Allocation % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 10/31/2019)
Financials 23.64 21.56
Consumer Discretionary 16.85 11.60
Industrials 12.74 12.09
Information Technology 10.19 9.01
Health Care 9.07 8.69
Consumer Staples 8.87 9.82
Materials 6.83 7.27
Energy 5.52 6.61
Communication Services 3.30 6.67
Cash & Equivalents 2.99 -
Regional Allocations % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 10/31/2019)
Europe 41.99 43.37
Asia/Pacific Ex Japan 28.93 27.29
Japan 15.97 16.67
North America 10.12 6.85
Cash & Equivalents 2.99 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF PORTFOLIO % OF INDEX % OF PORTFOLIO % OF INDEX (As of 10/31/2019)
Over $100B 31.79 20.80
$50B to $100B 27.72 17.14
$10B to $50B 23.67 43.45
$5B to $10B 9.77 12.30
$1B to $5B 3.37 4.93
$500M to $1B 0.69 0.01
Developed VS Emerging Markets % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 10/31/2019)
Non-U.S. Developed 72.52 73.52
Non-U.S. Emerging 20.98 26.36
U.S. 3.51 0.12
Cash & Equivalents 2.99 -

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