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
$38.94
As of 09/28/2020

1-Day Change
$0.36 (0.93%)
As of 09/28/2020

YTD Return
6.45%
As of 09/28/2020

Morningstar Rating

As of 08/31/2020

Overview

Quarterly Update

Watch the investment team recap this quarter.

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
Fund Highlights

PORTFOLIO MANAGEMENT

Jeremiah Buckley, CFA

Portfolio Manager

Industry since 1998. Joined Firm in 1998.

Marc Pinto, CFA

Portfolio Manager

Industry since 1983. Joined Firm in 1994.

Greg Wilensky, CFA

Head of U.S. Fixed Income

Industry since 1993. Joined Firm in 2020.

Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Performance

RETURNS (%) (As of 06/30/2020)
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 12.91 -0.08 8.50 10.50 8.87 9.91 9.74
S&P 500® Index 20.54 -3.08 7.51 10.73 10.73 13.99 9.66
Bloomberg Barclays U.S. Aggregate Bond Index 2.90 6.14 8.74 5.32 4.30 3.82 5.49
Balanced Index 12.43 1.46 8.66 8.67 8.10 9.57 8.07
RETURNS (%) (As of 08/31/2020)
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 11.32 8.91 15.63 12.90 11.34 10.62 10.02
S&P 500® Index 15.48 9.74 21.94 14.52 14.46 15.16 10.08
Bloomberg Barclays U.S. Aggregate Bond Index 1.31 6.85 6.47 5.09 4.33 3.65 5.49
Balanced Index 8.98 9.07 15.43 10.62 10.11 10.11 8.30
CALENDAR YEAR RETURNS (%)
Balanced Fund - Class I Shares S&P 500® Index
 
  2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Balanced Fund - Class I Shares 8.01 1.49 13.09 19.86 8.53 0.64 4.61 18.58 0.70 22.59
S&P 500® Index 15.06 2.11 16.00 32.39 13.69 1.38 11.96 21.83 -4.38 31.49

MORNINGSTAR PERCENTILE

(As Of 06/30/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 9 2 4 10 7
Allocation-50% to 70% Equity Category|Rank/Count 54/685 11/665 17/626 56/516 12/183
(As Of 08/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 12 3 4 10 7
Allocation-50% to 70% Equity Category|Rank/Count 78/683 12/660 19/654 51/522 11/183

RETURNS-BASED STATISTICS (As of 08/31/2020 Class I Shares)

RISK / REWARD
VS. S&P 500® Index
3YR 5YR
Information Ratio -0.22 -0.51
Alpha 3.84 2.34
Tracking Error 7.38 6.14
Beta 0.59 0.61
R-squared (%) 96.89 95.59
UP/DOWN MARKET CAPTURE (%)
VS. S&P 500® Index
3YR 5YR
Up Capture Ratio 63.88 64.09
Down Capture Ratio 52.49 55.46
STANDARD DEVIATION 3YR 5YR
Balanced Fund 10.53 9.18
S&P 500® Index 17.51 14.80
SHARPE RATIO 3YR 5YR
Balanced Fund 1.07 1.11
S&P 500® Index 0.73 0.90
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2019)
CLASS I SHARES
Management Fees 0.55%
12b-1 Fees -
Other Expenses 0.10%
Total Gross Expenses 0.65%
Waivers 0.00%
Total Net Expenses 0.65%

Portfolio

Index represents the S&P 500® Index.

Top Holdings (As of 08/31/2020)
% of Fund
Microsoft Corp 5.08
Apple Inc 3.77
Amazon.com Inc 3.32
Mastercard Inc 2.63
Alphabet Inc 2.52
Adobe Inc 2.14
Home Depot Inc 2.00
UnitedHealth Group Inc 1.93
Merck & Co Inc 1.49
Accenture PLC 1.46
Total 26.34
View full holdings
Portfolio Characteristics (As of 08/31/2020)
 
Number of Holdings
Equity Issues
64
Number of Holdings
Debt Issues
676
Market Capitalization
Weighted Average
$538.19B
Portfolio Turnover Rate
(1-year trailing)
85.63%
Price/Earnings Ratio
(1-year forward)
33.35
Price/Book Ratio
(1-year forward)
12.78
Earnings Growth Rate
(1-year forward)
2.92%
Weighted Average Maturity
(years)
8.69
Effective Duration
(years)
6.40
Asset Allocation:
Equity Fixed Income Cash & Equivalents
Sector Allocation % OF FUND % OF FUND (As of 08/31/2020)
Information Technology 20.67
Consumer Discretionary 10.22
Health Care 9.50
Financials 5.66
Communication Services 5.00
Consumer Staples 4.67
Industrials 3.93
Real Estate 1.33
Materials 0.44
Utilities 0.36
Credit-Investment Grade 19.16
MBS 6.97
Credit-High Yield 3.37
Treasuries 3.34
CMO 1.87
ABS 1.47
CMBS 1.26
Bank Loans 0.15
Regional Allocations % OF FUND % OF FUND (As of August 31, 2020)
North America 97.77
Europe 1.38
Latin America 0.17
Japan 0.05
Cash & Equivalents 0.63
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF FUND (As of August 31, 2020)
Over $100B 44.61
$50B to $100B 10.30
$10B to $50B 6.43
$1B to $5B 0.30
N/A 0.14
Developed VS Emerging Markets % OF FUND % OF FUND (As of August 31, 2020)
U.S. 97.61
Non-U.S. Developed 1.59
Non-U.S. Emerging 0.17
Cash & Equivalents 0.63
MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS % OF FUND % OF FUND (As of August 31, 2020)
< 1 yr 1.08
1 - 3 yrs 6.16
3 - 5 yrs 7.79
5 - 7 yrs 5.44
7 - 10 yrs 9.29
10 - 20 yrs 2.74
> 20 yrs 4.22
N/A 0.87
Credit Quality of Fixed Income Holdings % OF FUND % OF FUND (As of August 31, 2020)
Aaa 12.15
Aa 0.41
A 5.49
Baa 15.13
Ba 2.51
B 1.53
NOT RATED 0.37

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