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For Institutional Investors in the US

US Research Growth Equity

Sector specialists conduct independent research to create a high-conviction portfolio of best ideas around the globe, regardless of market cap or sub-sector

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Overview

ABOUT THIS STRATEGY

We believe that the best way to generate consistent excess returns is stock picking based on independent research. We focus the risks of the portfolio on what we are good at – research and stock selection – and seek to avoid unnecessary risks – macro risks and other portfolio biases. Therefore, we let sector experts drive the process and pick their best ideas and use a portfolio oversight team to monitor the risk of the portfolio and keep it focused on stock selection.

INVESTMENT APPROACH

Managed by Sector Experts
Our teams of dedicated sector specialists conduct independent, differentiated research to construct unique sector portfolios that are combined to form a diversified portfolio. This design allows investors to benefit directly from the insights and expertise of Janus Henderson’s equity research team.

Pure Stock Picking Approach
Each of our experienced global sector teams builds a high-conviction portfolio of their best ideas, regardless of market cap, geography or sub-sector. All ideas and position sizes are debated and fully vetted before entry into the portfolio.

Minimize the Macro
This portfolio's disciplined investment process is designed to minimize macro risks by aligning sector allocations with the benchmark. This allows fundamental, bottom-up stock selection within each sector to be the primary driver of returns.

Portfolio Management

Joshua Cummings, CFA: Portfolio Manager | Research Analyst
Joshua Cummings, CFA

Portfolio Manager | Research Analyst

Industry since 1996. Joined Firm in 2016.

John Jordan: Portfolio Manager | Research Analyst
John Jordan

Portfolio Manager | Research Analyst

Industry since 1997. Joined Firm in 2008.

Performance

RETURNS (%) (As of 03/31/2026)
Composite Gross Composite Net Russell 1000® Growth Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(08/01/2007)
Composite Gross -10.49 -10.49 17.82 22.30 12.14 15.55 12.44
Composite Net -10.64 -10.64 17.08 21.54 11.43 14.82 11.76
Russell 1000® Growth Index -9.78 -9.78 18.81 21.18 12.76 16.83 12.71
Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars unless otherwise stated. Composite returns are net of transaction costs and gross of non-reclaimable withholding taxes (if any and unless otherwise noted), and reflect the reinvestment of dividends and other earnings.
The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fees and other expenses as described in the individual contract and, where applicable, Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy and may be higher or lower than model fees. Returns for each client will be reduced by such fees and expenses as described in the individual contract and, where applicable, in Form ADV Part 2A.
RETURNS (%) (As of 04/30/2026)
Composite Gross Composite Net Russell 1000® Growth Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(08/01/2007)
Composite Gross 2.67 1.38 30.42 27.08 13.45 17.00 13.13
Composite Net 2.50 1.17 29.61 26.29 12.73 16.26 12.45
Russell 1000® Growth Index 2.51 0.96 30.63 25.39 13.82 18.26 13.32
Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars unless otherwise stated. Composite returns are net of transaction costs and gross of non-reclaimable withholding taxes (if any and unless otherwise noted), and reflect the reinvestment of dividends and other earnings.
The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fees and other expenses as described in the individual contract and, where applicable, Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy and may be higher or lower than model fees. Returns for each client will be reduced by such fees and expenses as described in the individual contract and, where applicable, in Form ADV Part 2A.
Calendar Year Returns (%)
Composite Gross Composite Net Russell 1000® Growth Index
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Composite Gross 19.31 35.93 43.99 -29.48 21.18 33.65 36.30 -2.09 27.13 2.41
Composite Net 18.56 35.08 43.10 -29.94 20.42 32.81 35.45 -2.71 26.33 1.76
Russell 1000® Growth Index 18.56 33.36 42.68 -29.14 27.60 38.49 36.39 -1.51 30.21 7.08
Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars unless otherwise stated. Composite returns are net of transaction costs and gross of non-reclaimable withholding taxes (if any and unless otherwise noted), and reflect the reinvestment of dividends and other earnings.
The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fees and other expenses as described in the individual contract and, where applicable, Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy and may be higher or lower than model fees. Returns for each client will be reduced by such fees and expenses as described in the individual contract and, where applicable, in Form ADV Part 2A.

Documents

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