For Institutional Investors in the US

JBALX Balanced Fund

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

NAV
$43.02
As of 04/20/2021

1-Day Change
-$0.20 (-0.46%)
As of 04/20/2021

YTD Return
5.11%
As of 04/20/2021

Morningstar Rating

As of 03/31/2021

View Institutional Strategy

Quicklinks

Overview

25+ YEAR HISTORY OF

Providing S&P 500®-Like Returns with Significantly Less Volatility

Fund Highlights

  • Large-cap growth equities paired with an actively managed intermediate-term bond strategy
  • Dynamic asset allocation approach that migrates between 35%-65% equity depending on market conditions
  • Integrated research allows our equity and fixed income analysts to work side by side covering the same global sectors
Balance Scale

Equity Allocation Adapting to Market Changes

Balanced Fund Equity Allocation in Relation to Market Volatility (12/31/97 – 12/31/20)

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.
As of 3/31/21, Balanced Fund Class I Shares Morningstar Ratings™ in the Allocation - 50% to 70% Equity category: 5 stars out of 641 funds, 5 stars out of 574 funds and 5 stars out of 412 funds, for the 3-, 5-, and 10-year periods, respectively.

RATINGS AND AWARDS

PORTFOLIO MANAGEMENT

Jeremiah Buckley, CFA

Jeremiah Buckley, CFA

Portfolio Manager

Industry since 1998. Joined Firm in 1998.

Greg Wilensky, CFA

Greg Wilensky, CFA

Head of U.S. Fixed Income | Portfolio Manager

Industry since 1993. Joined Firm in 2020.

Michael Keough

Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Performance

RETURNS (%) (As of 03/31/2021)
Balanced Fund - Class I Shares S&P 500® Index Bloomberg Barclays U.S. Aggregate Bond Index Balanced Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Balanced Fund - Class I Shares 1.67 1.67 31.42 12.59 12.44 9.91 10.06
S&P 500® Index 6.17 6.17 56.35 16.78 16.29 13.91 10.39
Bloomberg Barclays U.S. Aggregate Bond Index -3.37 -3.37 0.71 4.65 3.10 3.44 5.27
Balanced Index 1.83 1.83 28.86 11.64 10.49 9.35 8.37
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 I 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 03/31/2021)
Balanced Fund - Class I Shares S&P 500® Index Bloomberg Barclays U.S. Aggregate Bond Index Balanced Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Balanced Fund - Class I Shares 1.67 1.67 31.42 12.59 12.44 9.91 10.06
S&P 500® Index 6.17 6.17 56.35 16.78 16.29 13.91 10.39
Bloomberg Barclays U.S. Aggregate Bond Index -3.37 -3.37 0.71 4.65 3.10 3.44 5.27
Balanced Index 1.83 1.83 28.86 11.64 10.49 9.35 8.37
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 I 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 (%)
Balanced Fund - Class I Shares S&P 500® Index
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Balanced Fund - Class I Shares 1.49 13.09 19.86 8.53 0.64 4.61 18.58 0.70 22.59 14.39
S&P 500® Index 2.11 16.00 32.39 13.69 1.38 11.96 21.83 -4.38 31.49 18.40

MORNINGSTAR PERCENTILE

(As Of 03/31/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 79 11 8 8 7
Allocation-50% to 70% Equity Category|Rank/Count 526/683 56/672 38/643 41/521 12/187
(As Of 03/31/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 79 11 8 8 7
Allocation-50% to 70% Equity Category|Rank/Count 526/683 56/672 38/643 41/521 12/187

RETURNS-BASED STATISTICS (As of 03/31/2021 Class I Shares)

RISK / REWARD
VS. S&P 500® Index		 3YR 5YR
Information Ratio -0.54 -0.62
Alpha 2.26 2.40
Tracking Error 7.75 6.23
Beta 0.60 0.60
R-squared (%) 96.27 95.40
UP/DOWN MARKET CAPTURE (%)
VS. S&P 500® Index		 3YR 5YR
Up Capture Ratio 60.57 63.60
Down Capture Ratio 56.38 54.95
STANDARD DEVIATION 3YR 5YR
Balanced Fund 11.17 9.19
S&P 500® Index 18.40 14.89
SHARPE RATIO 3YR 5YR
Balanced Fund 1.00 1.23
S&P 500® Index 0.83 1.02
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/20)
CLASS I SHARES
Management Fees 0.55%
Other Expenses 0.10%
Total Gross Expenses 0.65%
Waivers 0.00%
Total Net Expenses 0.65%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through at least 1/27/22.

Portfolio

Index represents the S&P 500® Index.

Top Holdings (As of 03/31/2021)
% of Fund
Microsoft Corp 4.92
Apple Inc 3.32
Alphabet Inc 3.11
Amazon.com Inc 2.86
Mastercard Inc 2.49
UnitedHealth Group Inc 2.13
Home Depot Inc 1.87
Adobe Inc 1.84
Lam Research Corp 1.75
United States Treasury Note/Bond, 0.50%, 02/28/26 1.67
Total 25.96
View Full Holdings
Portfolio Characteristics (As of 03/31/2021)
 
Number of Holdings
Equity Issues		 69
Number of Holdings
Debt Issues		 520
Market Capitalization
Weighted Average		 $511.22B
Portfolio Turnover Rate
(1-year trailing)		 65.97%
Price/Earnings Ratio
(1-year forward)		 30.46
Price/Book Ratio
(1-year forward)		 12.52
Earnings Growth Rate
(1-year forward)		 21.06%
Weighted Average Maturity
(years)		 7.97
Effective Duration
(years)		 6.02
Asset Allocation:
Equity Fixed Income Cash & Equivalents
Sector Allocation % OF FUND % OF FUND (As of 03/31/2021)
Information Technology 20.40
Consumer Discretionary 11.01
Health Care 9.87
Communication Services 6.34
Financials 6.35
Industrials 5.83
Consumer Staples 4.18
Materials 0.45
Real Estate 0.39
Credit-Investment Grade 8.30
Treasuries 6.78
Credit-High Yield 5.97
MBS 5.24
CMO 2.10
ABS 1.93
CMBS 1.93
Inflation Linked 1.51
Bank Loans 0.20
Regional Allocations % OF FUND % OF FUND (As of March 31, 2021)
North America 97.54
Europe 1.01
Asia/Pacific Ex Japan 0.19
Latin America 0.04
Cash & Equivalents 1.22
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF FUND (As of March 31, 2021)
Over $100B 47.89
$50B to $100B 9.55
$10B to $50B 7.15
N/A 0.23
Developed VS Emerging Markets % OF FUND % OF FUND (As of March 31, 2021)
U.S. 97.39
Non-U.S. Developed 1.24
Non-U.S. Emerging 0.15
Cash & Equivalents 1.22
MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS % OF FUND % OF FUND (As of March 31, 2021)
< 1 yr 1.59
1 - 3 yrs 4.04
3 - 5 yrs 8.12
5 - 7 yrs 4.20
7 - 10 yrs 10.75
10 - 20 yrs 1.55
> 20 yrs 2.68
N/A 1.03
Credit Quality of Fixed Income Holdings % OF FUND % OF FUND (As of March 31, 2021)
Aaa 15.59
Aa 0.34
A 2.76
Baa 7.60
Ba 5.24
B 1.89
NOT RATED 0.54
Credit quality ratings reflect the middle rating received from Moody’s, Standard & Poor’s and Fitch, where all three agencies have provided a rating. If only two agencies rate a security, the lowest rating is used. If only one agency rates a security, that rating is used. Ratings are measured on a scale that ranges from Aaa (highest) to D (lowest).

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Related Insights
Remember the Benefits of Bonds
April 13, 2021
Global Perspectives Quick Views Interest rates

Remember the Benefits of Bonds

Navigating a core bond portfolio in a rising rate environment.

Read More

Don’t fight the wave of rising rates, surf it
April 2021
Global Perspectives Credit Interest rates

Don’t fight the wave of rising rates, surf it

Greg Wilensky discusses the outlook for U.S. interest rates and the tools and investments available to navigate their rise.

Read More

Powerful Factors May Spark a Rebound in Travel and Leisure
March 31, 2021
Quick Views Coronavirus Featured Growth Equities

Powerful Factors May Spark a Rebound in Travel and Leisure

Exploring the strong recovery potential for travel and leisure industries as COVID restrictions ease.

Read More

TOP