For Institutional Investors in the US

JGBIX Global Bond Fund

A dynamic global bond fund seeking risk-adjusted returns and capital preservation

NAV
$10.42
As of 01/27/2021

1-Day Change
-$0.03 (-0.29%)
As of 01/27/2021

YTD Return
-0.67%
As of 01/27/2021

Morningstar Rating

As of 12/31/2020

View Institutional Strategy

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Overview

ABOUT THIS FUND

This dynamic, global multi-sector fixed income fund seeks risk-adjusted returns and capital preservation.

WHY INVEST IN THIS FUND

Dynamic Core Global Bond Holding
The Fund emphasizes risk-adjusted returns and capital preservation while seeking to identify the best opportunities across fixed income sectors globally.

Integrated Research
Partnership and fluid communication between fixed income and equity analysts promote idea generation. Credit research emphasizes free cash flow generation, quality of management and security valuation.

Sophisticated Risk Management
Our proprietary fixed income portfolio and risk-management system, Quantum Global, is integrated into the investment process at each step. We identify and measure the sources of risk in the portfolio at multiple levels to confirm that the portfolio is positioned as intended.

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.

View Our Insights

PORTFOLIO MANAGEMENT

Andrew Mulliner, CFA

Andrew Mulliner, CFA

Head of Global Aggregate Strategies | Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Nick Maroutsos

Nick Maroutsos

Head of Global Bonds | Portfolio Manager

Industry since 1999. Joined Firm in 2015.

Helen Anthony, CFA

Helen Anthony, CFA

Portfolio Manager

Industry since 2010. Joined Firm in 2010.

Performance

RETURNS (%) (As of 12/31/2020)
Global Bond Fund - Class I Shares Bloomberg Barclays Global Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/28/2010)
Global Bond Fund - Class I Shares 3.93 13.04 13.04 5.37 4.72 3.75 3.74
Bloomberg Barclays Global Aggregate Bond Index 3.28 9.20 9.20 4.85 4.79 2.83 2.71
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.
Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.
RETURNS (%) (As of 12/31/2020)
Global Bond Fund - Class I Shares Bloomberg Barclays Global Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/28/2010)
Global Bond Fund - Class I Shares 3.93 13.04 13.04 5.37 4.72 3.75 3.74
Bloomberg Barclays Global Aggregate Bond Index 3.28 9.20 9.20 4.85 4.79 2.83 2.86
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.
Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.
CALENDAR YEAR RETURNS (%)
Global Bond Fund - Class I Shares Bloomberg Barclays Global Aggregate Bond Index
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Global Bond Fund - Class I Shares 6.67 8.28 -1.95 5.81 -4.30 0.20 7.44 -2.32 5.95 13.04
Bloomberg Barclays Global Aggregate Bond Index 5.64 4.32 -2.60 0.59 -3.15 2.09 7.39 -1.20 6.84 9.20

MORNINGSTAR PERCENTILE

(As Of 12/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 2 15 57 11 17
World Bond Category|Rank/Count 6/208 32/192 114/189 20/164 25/164
(As Of 12/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 2 15 57 11 17
World Bond Category|Rank/Count 6/208 32/192 114/189 20/164 25/164

RETURNS-BASED STATISTICS (As of 12/31/2020 Class I Shares)

RISK / REWARD
VS. Bloomberg Barclays Global Aggregate Bond Index		 3YR 5YR
Information Ratio 0.29 -0.04
Alpha 0.35 0.14
Tracking Error 1.80 1.61
Beta 1.04 0.96
R-squared (%) 85.62 88.92
UP/DOWN MARKET CAPTURE (%)
VS. Bloomberg Barclays Global Aggregate Bond Index		 3YR 5YR
Up Capture Ratio 110.35 98.51
Down Capture Ratio 108.94 98.51
STANDARD DEVIATION 3YR 5YR
Global Bond Fund 4.73 4.80
Bloomberg Barclays Global Aggregate Bond Index 4.23 4.72
SHARPE RATIO 3YR 5YR
Global Bond Fund 0.81 0.74
Bloomberg Barclays Global Aggregate Bond Index 0.78 0.77
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/2020)
CLASS I SHARES
Management Fees 0.60%
Other Expenses 0.25%
Total Gross Expenses 0.85%
Waivers -0.16%
Total Net Expenses 0.69%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through at least 10/27/21.

Portfolio

Index represents the Bloomberg Barclays Global Aggregate Bond Index.

Top Holdings (As of 12/31/2020)
% of Fund
Japan Government Ten Year Bond, 0.10%, 12/20/29 4.98
Japanese Government CPI Linked Bond, 0.10%, 03/10/29 4.70
Mexican Bonos, 8.00%, 12/07/23 4.45
United States Treasury Note/Bond, 0.38%, 03/31/22 3.55
European Union, 0.00%, 10/04/30 2.86
Indonesia Treasury Bond, 8.38%, 03/15/34 2.84
Spain Government Bond, 1.25%, 10/31/30 2.60
United Kingdom Gilt, 1.62%, 10/22/28 2.57
Freddie Mac Pool, 3.00%, 11/01/49 2.40
Province of British Columbia Canada, 2.85%, 06/18/25 2.04
Total 32.99
View Full Holdings
Portfolio Characteristics (As of 12/31/2020)
  FUND INDEX
Number of Holdings
Debt Issues		 218 26531
Portfolio Turnover Rate
(1-year trailing)		 106.70% -
Weighted Average Maturity
(years)		 9.62 10.95
Effective Duration
(years)		 7.77 7.36
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 12/31/2020)
Treasuries 42.26 53.20
Credit-Investment Grade 26.98 18.74
Government Related 11.23 14.41
MBS 9.90 9.96
Inflation Linked 4.69 -
Credit-High Yield 3.79 0.01
ABS 2.04 0.16
Futures 0.87 -
CMO 0.69 -
Short Futures -6.11 -
Cash & Equivalents 3.66 -
Treasuries include U.S. Treasuries and non-U.S. Government securities.
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of December 31, 2020)
North America 35.99 39.02
Europe 20.84 30.36
Asia/Pacific Ex Japan 13.44 12.15
Japan 11.78 14.45
Latin America 8.30 1.14
Supranational 3.38 2.11
Africa/Mideast 2.61 0.77
Cash & Equivalents 3.66 -
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of December 31, 2020)
Non-U.S. Developed 36.40 49.52
U.S. 31.41 35.58
Non-U.S. Emerging 25.15 12.79
Other 3.38 2.11
Cash & Equivalents 3.66 -
MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of December 31, 2020)
< 1 yr 2.42 0.84
1 - 3 yrs 16.39 20.75
3 - 5 yrs 19.08 17.45
5 - 7 yrs 7.44 12.15
7 - 10 yrs 31.22 13.84
10 - 20 yrs 6.71 13.79
> 20 yrs 13.08 21.03
Credit Quality of Fixed Income Holdings % OF FUND % of Index % OF FUND % of Index (As of December 31, 2020)
Aaa 23.61 35.92
Aa 13.69 15.75
A 32.71 32.30
Baa 26.79 16.02
Ba 3.47 0.01
B 1.30 -
NOT RATED -5.23 -
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

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