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
$107.43
As of 06/18/2021

1-Day Change
-$1.29 (-1.19%)
As of 06/18/2021

YTD Return
3.72%
As of 06/18/2021

Morningstar Rating

As of 05/31/2021

Morningstar Analyst Rating
Morningstar Analyst Rating				Silver
As of 05/31/2021

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

At Janus Henderson, we believe in the sharing of expert insight for better investment and business decisions.

We call this ethos Knowledge. Shared.

PORTFOLIO MANAGEMENT

Jonathan Coleman, CFA

Portfolio Manager

Industry since 1994. Joined Firm in 1994.

Scott Stutzman, CFA

Portfolio Manager | Research Analyst

Industry since 2001. Joined Firm in 2007.

Performance

RETURNS (%) (As of 03/31/2021)
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 1.73 1.73 80.55 16.51 17.82 14.12 12.70
Russell 2000® Growth Index 4.88 4.88 90.20 17.16 18.61 13.02 9.13
Russell 2000® Index 12.70 12.70 94.85 14.76 16.35 11.68 10.27
RETURNS (%) (As of 05/31/2021)
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 -1.11 2.77 44.38 14.63 17.07 13.88 12.67
Russell 2000® Growth Index -3.86 4.10 50.14 14.48 17.57 12.76 9.06
Russell 2000® Index 3.34 15.30 64.56 13.06 16.01 11.86 10.29
CALENDAR YEAR RETURNS (%)
Venture Fund - Class I Shares Russell 2000® Growth Index
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Venture Fund - Class I Shares 2.18 17.33 42.00 10.40 -0.72 7.23 24.35 -6.55 30.87 31.70
Russell 2000® Growth Index -2.91 14.59 43.30 5.60 -1.38 11.32 22.17 -9.31 28.48 34.63

MORNINGSTAR PERCENTILE

(As Of 03/31/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 77 72 67 35 11
Small Growth Category|Rank/Count 464/622 428/603 394/579 196/532 6/50
(As Of 05/31/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 79 70 68 38 11
Small Growth Category|Rank/Count 470/624 442/605 394/583 207/531 6/50

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

RISK / REWARD
VS. Russell 2000® Growth Index
3YR 5YR
Information Ratio 0.04 -0.12
Alpha 0.89 0.82
Tracking Error 4.22 4.18
Beta 0.94 0.92
R-squared (%) 97.42 96.15
UP/DOWN MARKET CAPTURE (%)
VS. Russell 2000® Growth Index
3YR 5YR
Up Capture Ratio 91.26 89.03
Down Capture Ratio 89.86 85.76
STANDARD DEVIATION 3YR 5YR
Venture Fund 24.15 19.44
Russell 2000® Growth Index 25.49 20.78
SHARPE RATIO 3YR 5YR
Venture Fund 0.55 0.82
Russell 2000® Growth Index 0.51 0.79
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/20)
CLASS I SHARES
Management Fees 0.64%
Other Expenses 0.11%
Total Gross Expenses 0.75%
Waivers 0.00%
Total Net Expenses 0.75%

Portfolio

Index represents the Russell 2000® Growth Index.

Top Holdings (As of 05/31/2021)
% of Fund
Catalent Inc 2.86
Nice Ltd (ADR) 2.33
LPL Financial Holdings Inc 1.98
j2 Global Inc 1.95
SS&C Technologies Holdings Inc 1.77
Valvoline Inc 1.75
Sensient Technologies Corp 1.69
Rexnord Corp 1.53
Broadridge Financial Solutions Inc 1.52
ON Semiconductor Corp 1.50
Total 18.88
View Full Holdings
Portfolio Characteristics (As of 05/31/2021)
  FUND INDEX
Number of Holdings
Equity Issues
133 1139
Market Capitalization
Weighted Average
$6.77B $4.25B
Portfolio Turnover Rate
(1-year trailing)
22.02% -
Price/Earnings Ratio
(1-year forward)
34.70 31.06
Price/Book Ratio
(1-year forward)
5.86 6.36
Earnings Growth Rate
(1-year forward)
23.45% 24.64%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 05/31/2021)
Information Technology 29.95 20.03
Health Care 27.21 31.65
Industrials 15.01 14.75
Consumer Discretionary 8.01 15.70
Materials 5.28 2.90
Financials 5.27 4.15
Real Estate 2.74 3.53
Consumer Staples 2.10 3.34
Communication Services 0.88 2.20
Cash & Equivalents 3.55 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of May 31, 2021)
North America 89.00 99.70
Africa/Mideast 3.21 0.15
Europe 2.59 0.14
Asia/Pacific Ex Japan 1.24 0.01
Latin America 0.41 -
Cash & Equivalents 3.55 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of May 31, 2021)
$10B to $50B 20.87 3.63
$5B to $10B 25.31 28.10
$1B to $5B 43.21 59.92
$500M to $1B 5.78 5.64
$250M to $500M 0.37 1.97
N/A 0.91
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of May 31, 2021)
U.S. 86.31 99.44
Non-U.S. Developed 8.49 0.54
Non-U.S. Emerging 1.65 0.02
Cash & Equivalents 3.55 -

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