For Institutional Investors in the US

JGBIX Global Bond Fund

A dynamic global bond fund that seeks superior risk-adjusted returns relative to the benchmark over a market cycle

NAV
$10.13
As of 06/23/2021

1-Day Change
-$0.02 (-0.19%)
As of 06/23/2021

YTD Return
-2.80%
As of 06/23/2021

Morningstar Rating

As of 05/31/2021

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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

Risk Management: Our risk process is focused on understanding portfolio behaviors and adjusting the risk exposure over a market cycle, seeking to deliver superior risk-adjusted returns relative to the benchmark.

Cross asset collaboration: We draw on the input and experience of specialists across different asset classes. Incorporating these insights results in a deeper understanding of the current investment regime, helping us to identify the major turning points and specific opportunities.

Scenario-driven research: Investment decisions are made through a probabilistic lens, not a central forecast. Our assessment is informed by considering the distribution of potential outcomes and in turn a focus on relative attractiveness of fixed income sectors.

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 03/31/2021)
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 -4.44 -4.44 6.23 2.98 3.00 3.05 3.19
Bloomberg Barclays Global Aggregate Bond Index -4.46 -4.46 4.67 2.80 2.66 2.23 2.45
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 05/31/2021)
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 0.40 -2.06 6.12 4.89 3.56 2.97 3.39
Bloomberg Barclays Global Aggregate Bond Index 0.25 -2.35 4.47 4.38 3.11 2.15 2.62
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 03/31/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 77 26 41 14 16
World Bond Category|Rank/Count 173/206 57/191 88/187 24/162 30/162
(As Of 05/31/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 61 18 42 15 15
World Bond Category|Rank/Count 144/209 45/194 88/189 32/176 26/167

RETURNS-BASED STATISTICS (As of 05/31/2021 Class I Shares)

RISK / REWARD
VS. Bloomberg Barclays Global Aggregate Bond Index		 3YR 5YR
Information Ratio 0.32 0.30
Alpha 0.50 0.46
Tracking Error 1.63 1.51
Beta 1.00 1.00
R-squared (%) 87.96 90.62
UP/DOWN MARKET CAPTURE (%)
VS. Bloomberg Barclays Global Aggregate Bond Index		 3YR 5YR
Up Capture Ratio 106.46 104.91
Down Capture Ratio 100.81 98.95
STANDARD DEVIATION 3YR 5YR
Global Bond Fund 4.70 4.92
Bloomberg Barclays Global Aggregate Bond Index 4.40 4.69
SHARPE RATIO 3YR 5YR
Global Bond Fund 0.75 0.49
Bloomberg Barclays Global Aggregate Bond Index 0.69 0.42
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/20)
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 05/31/2021)
% of Fund
Mexican Bonos, 8.00%, 12/07/23 4.55
Japanese Government CPI Linked Bond, 0.10%, 03/10/29 4.45
Japan Government Ten Year Bond, 0.10%, 12/20/29 4.37
China Government Bond, 2.68%, 05/21/30 2.66
Indonesia Treasury Bond, 8.38%, 03/15/34 2.65
European Union, 0.00%, 10/04/30 2.57
United Kingdom Gilt, 1.62%, 10/22/28 2.53
Spain Government Bond, 1.25%, 10/31/30 2.36
Province of British Columbia Canada, 2.85%, 06/18/25 1.99
China Government Bond, 3.86%, 07/22/49 1.97
Total 30.10
View Full Holdings
Portfolio Characteristics (As of 05/31/2021)
  FUND INDEX
Number of Holdings
Debt Issues		 243 27072
Portfolio Turnover Rate
(1-year trailing)		 52.15% -
Weighted Average Maturity
(years)		 9.24 10.95
Effective Duration
(years)		 9.20 7.37
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 05/31/2021)
Treasuries 38.15 52.97
Credit-Investment Grade 28.47 18.53
Government Related 11.18 14.65
Credit-High Yield 7.97 -
MBS 5.81 10.33
Inflation Linked 4.44 -
ABS 1.90 0.15
CMO 0.39 -
Cash & Equivalents 1.69 -
Treasuries include U.S. Treasuries and non-U.S. Government securities.
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of May 31, 2021)
North America 31.52 39.65
Europe 26.26 29.90
Asia/Pacific Ex Japan 13.52 12.69
Japan 12.55 13.72
Latin America 8.64 1.10
Supranational 3.00 2.18
Africa/Mideast 2.82 0.76
Cash & Equivalents 1.69 -
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of May 31, 2021)
Non-U.S. Developed 42.73 48.43
U.S. 26.73 36.09
Non-U.S. Emerging 25.85 13.30
Other 3.00 2.18
Cash & Equivalents 1.69 -
MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of May 31, 2021)
< 1 yr 3.37 0.57
1 - 3 yrs 9.51 20.98
3 - 5 yrs 21.32 17.65
5 - 7 yrs 7.69 12.30
7 - 10 yrs 38.84 13.86
10 - 20 yrs 7.27 13.85
> 20 yrs 10.31 20.79
Credit Quality of Fixed Income Holdings % OF FUND % of Index % OF FUND % of Index (As of May 31, 2021)
Aaa 16.74 36.68
Aa 11.74 15.32
A 32.98 31.87
Baa 27.98 16.13
Ba 5.93 -
B 2.94 -
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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