For Institutional Investors in the US

JVTIX Venture Fund

Our in-depth fundamental research seeks resilient small-cap companies using their competitive advantages to grow over a multi-year time frame

NAV
$74.74
As of 03/28/2023

1-Day Change
$0.00 (0.00%)
 As of 03/28/2023

YTD Return
4.34%
As of 03/28/2023

Morningstar Rating

As of 02/28/2023

Morningstar Analyst Rating
Silver Morningstar Analyst Rating
As of 02/28/2023

View Institutional Strategy

Overview

ABOUT THIS FUND

A moderately positioned U.S. small-cap growth fund seeking to provide consistent relative returns with lower volatility than the index. Invests in small-cap companies with differentiated business models and sustainable competitive advantages that we believe are positioned to grow market share regardless of economic conditions.

WHY INVEST IN THIS FUND

Unique Business Models
Seeks small-cap companies that are differentiated from competitors – differentiated business model, innovative approach or unique products or services – that are using their competitive advantages to grow over a multi-year time frame.

Deep, Specialized Team
In-depth fundamental research supported by a broad team of analysts and a team of small-mid cap specialists, and a portfolio management team with experience identifying small-cap companies early in their life cycle.

Moderate Approach to Growth
Offers potential for capital appreciation through exposure to small and fast growing companies with a focus on resilient business models positioned to weather a variety of market environments.

Knowledge Shared

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

Jonathan Coleman, CFA

Jonathan Coleman, CFA

Portfolio Manager

Industry since 1994. Joined Firm in 1994.

Scott Stutzman, CFA

Scott Stutzman, CFA

Portfolio Manager | Research Analyst

Industry since 2001. Joined Firm in 2007.

Performance

RETURNS (%) (As of 12/31/2022)
Venture Fund - Class I Shares Russell 2000® Growth Index Russell 2000® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(04/30/1985)
Venture Fund - Class I Shares 6.39 -24.13 -24.13 2.47 5.64 10.57 11.43
Russell 2000® Growth Index 4.13 -26.36 -26.36 0.65 3.51 9.20 7.75
Russell 2000® Index 6.23 -20.44 -20.44 3.10 4.13 9.01 9.16
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.
Performance for Class I Shares that includes periods prior to 5/6/11, reflects the performance of one or more share classes of the Fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

RETURNS (%) (As of 02/28/2023)
Venture Fund - Class I Shares Russell 2000® Growth Index Russell 2000® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(04/30/1985)
Venture Fund - Class I Shares 3.28 8.99 -7.65 8.86 6.92 10.83 11.63
Russell 2000® Growth Index 1.78 8.76 -7.92 6.51 5.06 9.31 7.96
Russell 2000® Index 0.89 7.89 -6.02 10.08 6.01 9.06 9.34
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.
Performance for Class I Shares that includes periods prior to 5/6/11, reflects the performance of one or more share classes of the Fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Calendar Year Returns (%)
Venture Fund - Class I Shares Russell 2000® Growth Index
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Venture Fund - Class I Shares -24.13 7.69 31.70 30.87 -6.55 24.35 7.23 -0.72 10.40 42.00
Russell 2000® Growth Index -26.36 2.83 34.63 28.48 -9.31 22.17 11.32 -1.38 5.60 43.30

MORNINGSTAR PERCENTILE

(As Of 12/31/2022)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 31 64 64 41 9
Small Growth Category|Rank/Count 152/613 347/597 339/575 214/533 5/47
(As Of 02/28/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 36 52 66 36 9
Small Growth Category|Rank/Count 180/613 272/597 347/576 189/533 5/47

RETURNS-BASED STATISTICS (As of 02/28/2023 Class I Shares)

RISK / REWARD
VS. Russell 2000® Growth Index		 3YR 5YR
Information Ratio 0.41 0.38
Alpha 2.63 2.06
Tracking Error 5.77 4.93
Beta 0.91 0.91
R-squared (%) 95.58 96.10
UP/DOWN MARKET CAPTURE (%)
VS. Russell 2000® Growth Index		 3YR 5YR
Up Capture Ratio 92.53 91.56
Down Capture Ratio 87.56 87.35
STANDARD DEVIATION 3YR 5YR
Venture Fund 24.85 22.63
Russell 2000® Growth Index 26.74 24.26
SHARPE RATIO 3YR 5YR
Venture Fund 0.32 0.25
Russell 2000® Growth Index 0.21 0.15
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2022)
CLASS I SHARES
Management Fees 0.64%
Other Expenses 0.12%
Total Gross Expenses 0.76%
Waivers 0.00%
Total Net Expenses 0.76%
Net expense ratios reflect the expense waiver, if any, contractually agreed to for at least a one-year period commencing on January 27, 2023. This contractual waiver may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

Index represents the Russell 2000® Growth Index.

Top Holdings (As of 02/28/2023)
% of Fund
Catalent Inc 2.28
Nice Ltd (ADR) 2.18
ATS Corp 2.10
ON Semiconductor Corp 2.07
WNS Holdings Ltd (ADR) 1.96
Rentokil Initial PLC (ADR) 1.82
SS&C Technologies Holdings Inc 1.80
LPL Financial Holdings Inc 1.76
Valvoline Inc 1.68
Descartes Systems Group Inc 1.68
Total 19.33
View full holdings
Portfolio Characteristics (As of 02/28/2023)
  FUND INDEX
Number of Holdings
Equity Issues		 130 1096
Market Capitalization
Weighted Average		 $6.03B $3.06B
Portfolio Turnover Rate
(1-year trailing)		 14.27% -
Price/Earnings Ratio
(1-year forward)		 17.20 15.94
Price/Book Ratio
 3.40 3.59
Earnings Growth Rate
(1-year forward)		 13.50% 16.79%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 02/28/2023)
Regional Allocation % OF FUND % of Index % OF FUND % of Index (As of February 28, 2023)
Market Capitalization Range of Equity Holdings % OF FUND % of Index % OF FUND % of Index (As of 02/28/2023)
Developed vs Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of February 28, 2023)

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
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