Please ensure Javascript is enabled for purposes of website accessibility Forty Fund - Janus Henderson Investors
For Institutional Investors in the US

JCAPX Forty Fund

We believe our differentiated view from the market identifies growth where growth is scarce, positioning our investments to outperform the index over time

NAV
$58.16
As of 06/18/2024

1-Day Change
$0.14 (0.24%)
As of 06/18/2024

YTD Return
19.72%
As of 06/18/2024

Morningstar Rating

As of 05/31/2024

Overview

ABOUT THIS FUND

Concentrated large-cap growth fund, leveraging our three decades of experience in high-conviction investing. By investing in our best wide-moat ideas, the Fund seeks to add excess returns over the long term. Given its concentrated nature, the Fund may exhibit moderately higher volatility than its benchmark.

WHY INVEST IN THIS FUND

High-Conviction Approach
Fundamental research-driven approach, investing with conviction in 30 to 40 of our best large-cap growth ideas where we believe we have a differentiated view from the market.

Innovative Wide-Moat Companies
Seeks companies with sustainable competitive advantages that capitalize on their competitive moat to grow market share globally over a multi-year period. Emphasizes dominant companies driving innovation and change through disruptive technologies, products or business models.

Stock Selection Drives Return
Stock picker’s fund designed to deliver long-term growth of capital with a high-conviction approach. Seeks to use risk wisely, leveraging our best ideas in a concentrated portfolio to drive potential outperformance of the index over time.

 

Active approach has delivered solid returns

Forty Fund (Class I Shares) vs. Morningstar Large Growth Peers as of 3/31/24

Proof Point chart Q1 2024 Forty Fund

Past performance is no guarantee of future results.

PORTFOLIO MANAGEMENT

Doug Rao

Portfolio Manager

Industry since 1998. Joined Firm in 2013.

Nick Schommer, CFA

Portfolio Manager

Industry since 2007. Joined Firm in 2013.

Brian Recht

Co-Portfolio Manager | Research Analyst

Industry since 2011. Joined Firm in 2015.

Performance

RETURNS (%) (As of 03/31/2024)
Forty Fund - I Shares Russell 1000® Growth Index S&P 500® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/01/1997)
Forty Fund - I Shares 12.80 12.80 38.31 8.18 16.15 15.27 12.42
Russell 1000® Growth Index 11.41 11.41 39.00 12.50 18.51 15.98 9.77
S&P 500® Index 10.56 10.56 29.88 11.49 15.04 12.96 9.25
RETURNS (%) (As of 05/31/2024)
Forty Fund - I Shares Russell 1000® Growth Index S&P 500® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/01/1997)
Forty Fund - I Shares 2.61 13.30 32.78 5.81 16.36 15.22 12.36
Russell 1000® Growth Index 3.28 13.08 33.60 11.12 19.36 15.79 9.77
S&P 500® Index 3.91 11.30 28.19 9.57 15.80 12.69 9.21
Calendar Year Returns (%)
Forty Fund - I Shares Russell 1000® Growth Index
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Forty Fund - I Shares 39.91 -33.54 22.98 39.21 36.86 1.50 29.60 2.37 12.20 8.88
Russell 1000® Growth Index 42.68 -29.14 27.60 38.49 36.39 -1.51 30.21 7.08 5.67 13.05

MORNINGSTAR PERCENTILE

(As Of 03/31/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 48 60 33 16 4
Large Growth | Rank/Count 604/1196 648/1135 346/1094 141/994 11/491
(As Of 05/31/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 44 65 40 15 4
Large Growth | Rank / Count 525/1170 693/1118 417/1074 129/971 12/482

RETURNS-BASED STATISTICS (As of 04/30/2024 Class I Shares)

RISK / REWARD
VS. Russell 1000 Growth TR Index
3YR 5YR
Information Ratio -1.19 -0.60
Alpha -4.61 -1.95
Tracking Error 3.87 3.75
Beta 1.00 0.98
R-squared (%) 96.67 96.71
UP/DOWN MARKET CAPTURE (%)
VS. Russell 1000 Growth TR Index
3YR 5YR
Up Capture Ratio 90.97 92.03
Down Capture Ratio 105.90 99.90
STANDARD DEVIATION 3YR 5YR
Forty Fund 21.38 20.66
Russell 1000 Growth TR Index 21.01 20.78
SHARPE RATIO 3YR 5YR
Forty Fund 0.03 0.56
Russell 1000 Growth TR Index 0.26 0.68
ANNUAL FEES & EXPENSES (As of the most recent prospectus)
CLASS I SHARES
Management Fees 0.47%
Other Expenses 0.09%
Total Gross Expenses 0.56%
Waivers 0.00%
Total Net Expenses 0.56%

Portfolio

Index represents the Russell 1000® Growth Index.

Top Holdings (As of 05/31/2024)
% of Fund
Microsoft Corp 10.58
NVIDIA Corp 9.97
Amazon.com Inc 5.51
Meta Platforms Inc 5.45
Mastercard Inc 5.24
Apple Inc 5.21
Alphabet Inc 4.25
Booking Holdings Inc 3.48
ASML Holding NV 3.14
Eli Lilly & Co 2.90
TOTAL 55.73
View full holdings
Portfolio Characteristics (As of 05/31/2024)
  FUND INDEX
Number of Holdings
Equity Issues
37 439
Market Capitalization
Weighted Average
$1,107.39B $1,298.69B
Portfolio Turnover Rate
(1-year trailing)
32.86% -
Price/Earnings Ratio
(1-year forward)
27.37 26.77
Price/Book Ratio
9.15 11.53
Earnings Growth Rate
(1-year forward)
24.69% 22.52%
Sector Allocation % of Fund % of Index % of Fund % of Index As of 05/31/2024
Regional Allocation % of Fund % of Index % of Fund % of Index As of May 31, 2024
Developed vs Emerging Markets % of Fund % of Index % of Fund % of Index As of May 31, 2024
Market Capitalization Range of Equity Holdings % of Fund % of Index % of Fund % of Index As of 05/31/2024

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