JGBIX Global Bond Fund

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

NAV
$10.35
As of 09/28/2020

1-Day Change
$0.02 (0.19%)
As of 09/28/2020

YTD Return
8.67%
As of 09/28/2020

Morningstar Rating

As of 08/31/2020

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.

Chris Diaz, CFA

Chris Diaz, CFA

Portfolio Manager

Industry since 1997. Joined Firm in 2011.

Performance

RETURNS (%) (As of 06/30/2020)
Global Bond Fund - Class I Shares Bloomberg Barclays Global Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR Since Inception
(12/28/2010)
Global Bond Fund - Class I Shares 3.86 5.62 6.47 3.94 3.07 3.20
Bloomberg Barclays Global Aggregate Bond Index 3.32 2.98 4.22 3.79 3.56 2.50
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 08/31/2020)
Global Bond Fund - Class I Shares Bloomberg Barclays Global Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR Since Inception
(12/28/2010)
Global Bond Fund - Class I Shares 4.69 9.22 7.13 4.26 3.74 3.51
Bloomberg Barclays Global Aggregate Bond Index 3.95 6.11 5.54 3.91 4.10 2.78
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
Global Bond Fund - Class I Shares 6.67 8.28 -1.95 5.81 -4.30 0.20 7.44 -2.32 5.95
Bloomberg Barclays Global Aggregate Bond Index 5.64 4.32 -2.60 0.59 -3.15 2.09 7.39 -1.20 6.84

MORNINGSTAR PERCENTILE

(As Of 06/30/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 3 13 37 - 13
World Bond Category|Rank/Count 5/213 24/198 71/190 -/- 21/168
(As Of 08/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 16 12 46 - 13
World Bond Category|Rank/Count 26/207 22/193 94/188 -/- 21/165

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

RISK / REWARD
VS. Bloomberg Barclays Global Aggregate Bond Index		 3YR 5YR
Information Ratio 0.20 -0.21
Alpha 0.26 -0.09
Tracking Error 1.79 1.70
Beta 1.02 0.94
R-squared (%) 85.21 87.59
UP/DOWN MARKET CAPTURE (%)
VS. Bloomberg Barclays Global Aggregate Bond Index		 3YR 5YR
Up Capture Ratio 108.57 93.58
Down Capture Ratio 107.49 95.99
STANDARD DEVIATION 3YR 5YR
Global Bond Fund 4.65 4.74
Bloomberg Barclays Global Aggregate Bond Index 4.19 4.73
SHARPE RATIO 3YR 5YR
Global Bond Fund 0.56 0.55
Bloomberg Barclays Global Aggregate Bond Index 0.53 0.62
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/2019)
CLASS I SHARES
Management Fees 0.60%
12b-1 Fees -
Other Expenses 0.28%
Total Gross Expenses 0.88%
Waivers -0.19%
Total Net Expenses 0.69%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through at least 10/28/20.

Portfolio

Index represents the Bloomberg Barclays Global Aggregate Bond Index.

Top Holdings (As of 08/31/2020)
% of Fund
Japan Government Ten Year Bond, 0.10%, 12/20/29 4.83
Italy Buoni Poliennali Del Tesoro, 3.00%, 08/01/29 4.61
Japanese Government CPI Linked Bond, 0.10%, 03/10/29 4.22
Mexican Bonos, 8.00%, 12/07/23 3.75
United States Treasury Note/Bond, 0.38%, 03/31/22 3.26
Freddie Mac Pool, 3.00%, 11/01/49 2.41
Indonesia Treasury Bond, 8.38%, 03/15/34 2.37
United Kingdom Gilt, 1.62%, 10/22/28 2.30
Spain Government Bond, 1.25%, 10/31/30 2.26
Australia Government Bond, 1.75%, 06/21/51 1.90
Total 31.91
View full holdings
Portfolio Characteristics (As of 08/31/2020)
  FUND INDEX
Number of Holdings
Debt Issues		 240 25999
Portfolio Turnover Rate
(1-year trailing)		 131.09% -
Weighted Average Maturity
(years)		 10.24 11.04
Effective Duration
(years)		 8.23 7.26
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 08/31/2020)
Treasuries 44.42 52.81
Credit-Investment Grade 24.65 19.22
MBS 10.44 10.28
Government Related 7.46 13.77
Inflation Linked 4.22 -
CMO 1.55 -
ABS 1.26 0.18
Cash & Equivalents 6.00 -
Treasuries include U.S. Treasuries and non-U.S. Government securities.
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of August 31, 2020)
North America 37.24 40.09
Europe 26.65 30.66
Asia/Pacific Ex Japan 11.49 10.80
Japan 10.94 14.70
Latin America 5.67 0.93
Africa/Mideast 2.01 0.77
Cash & Equivalents 6.00 -
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of August 31, 2020)
Non-U.S. Developed 42.80 49.99
U.S. 33.09 36.66
Non-U.S. Emerging 18.11 11.30
Cash & Equivalents 6.00 -
MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of August 31, 2020)
< 1 yr 0.43 0.55
1 - 3 yrs 10.38 20.54
3 - 5 yrs 20.50 17.39
5 - 7 yrs 8.99 12.24
7 - 10 yrs 31.69 13.77
10 - 20 yrs 8.96 13.52
> 20 yrs 13.05 21.99
Credit Quality of Fixed Income Holdings % OF FUND % of Index % OF FUND % of Index (As of August 31, 2020)
Aaa 24.31 36.77
Aa 10.71 15.61
A 31.08 31.73
Baa 27.90 15.87
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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