For Individual Investors in the US

JANBX Balanced Fund

For 30 years, this dynamic allocation strategy has delivered our equity and fixed income expertise in a one-stop core solution.

NAV
$38.92
As of 03/24/2023

1-Day Change
$0.04 (0.10%)
 As of 03/24/2023

YTD Return
3.46%
As of 03/24/2023

Morningstar Rating

As of 02/28/2023

Buy/Trade

Overview

30 YEAR HISTORY OF

Providing S&P 500®-Like Returns with Significantly Less Volatility

Fund Highlights

  • High-conviction large-cap growth equities paired with an active intermediate-term bond strategy
  • Dynamic asset allocation approach that migrates between 35%-65% equity depending on market conditions
  • Integrated research allows our equity and fixed income analysts to work side by side covering the same global sectors
Balance Scale

RATINGS AND AWARDS

2023 Lipper Awards Winner United States

PORTFOLIO MANAGEMENT

Jeremiah Buckley, CFA

Jeremiah Buckley, CFA

Portfolio Manager

Industry since 1998. Joined Firm in 1998.

Greg Wilensky, CFA

Greg Wilensky, CFA

Head of U.S. Fixed Income | Portfolio Manager

Industry since 1993. Joined Firm in 2020.

Michael Keough

Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Performance

RETURNS (%) (As of 12/31/2022)
Balanced Fund - Class D Shares S&P 500® Index Bloomberg U.S. Aggregate Bond Index Balanced Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Balanced Fund - Class D Shares 5.52 -16.59 -16.59 3.77 6.62 8.35 9.28
S&P 500® Index 7.56 -18.11 -18.11 7.66 9.42 12.56 9.74
Bloomberg U.S. Aggregate Bond Index 1.87 -13.01 -13.01 -2.71 0.02 1.06 4.54
Balanced Index 5.11 -15.52 -15.52 3.32 5.49 7.51 7.68
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 D Shares that includes periods prior to 2/16/10 reflects the performance of one or more share classes of the Fund or a predecessor 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)
Balanced Fund - Class D Shares S&P 500® Index Bloomberg U.S. Aggregate Bond Index Balanced Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Balanced Fund - Class D Shares -1.15 2.23 -8.71 5.84 6.73 8.17 9.31
S&P 500® Index -2.28 3.69 -7.69 12.15 9.82 12.25 9.81
Bloomberg U.S. Aggregate Bond Index -0.04 0.41 -9.72 -3.77 0.53 1.12 4.53
Balanced Index -1.23 2.21 -8.25 5.10 5.93 7.37 7.71
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 D Shares that includes periods prior to 2/16/10 reflects the performance of one or more share classes of the Fund or a predecessor 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 (%)
Balanced Fund - Class D Shares S&P 500® Index
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Balanced Fund - Class D Shares -16.59 17.19 14.33 22.52 0.63 18.51 4.51 0.60 8.46 19.72
S&P 500® Index -18.11 28.71 18.40 31.49 -4.38 21.83 11.96 1.38 13.69 32.39
GROWTH OF A HYPOTHETICAL INVESTMENT
Source: Morningstar, Inc.
This graph compares the performance of a hypothetical $10,000 investment in the fund, the fund’s Morningstar category average and its benchmark(s).

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

RISK / REWARD
VS. S&P 500® Index		 3YR 5YR
Information Ratio -0.84 -0.42
Alpha -2.36 0.21
Tracking Error 7.40 7.23
Beta 0.67 0.64
R-squared (%) 96.42 95.37
UP/DOWN MARKET CAPTURE (%)
VS. S&P 500® Index		 3YR 5YR
Up Capture Ratio 60.84 61.57
Down Capture Ratio 74.45 65.64
STANDARD DEVIATION 3YR 5YR
Balanced Fund 14.14 12.22
S&P 500® Index 20.79 18.67
SHARPE RATIO 3YR 5YR
Balanced Fund 0.36 0.45
S&P 500® Index 0.54 0.45
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2022)
CLASS D SHARES
Management Fees 0.55%
Other Expenses 0.15%
Total Gross Expenses 0.70%
Waivers 0.00%
Total Net Expenses 0.70%
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 S&P 500® Index.

Top Holdings (As of 02/28/2023)
% of Fund
Microsoft Corp 4.55
Apple Inc 3.07
Mastercard Inc 2.18
UnitedHealth Group Inc 2.09
Alphabet Inc 1.99
Progressive Corp 1.62
United Parcel Service Inc 1.49
Deere & Co 1.37
United States Treasury Note/Bond, 4.00%, 11/15/52 1.37
JPMorgan Chase & Co 1.35
Total 21.08
View full holdings
Portfolio Characteristics (As of 02/28/2023)
 
Number of Holdings
Equity Issues		 65
Number of Holdings
Debt Issues		 597
Market Capitalization
Weighted Average		 $446.70B
Portfolio Turnover Rate
(1-year trailing)		 90.83%
Price/Earnings Ratio
(1-year forward)		 18.80
Price/Book Ratio
 4.92
Earnings Growth Rate
(1-year forward)		 13.55%
Weighted Average Maturity
(years)		 6.67
Effective Duration
(years)		 6.44
Yield to Worst
 5.37%

Yield to Worst calculation excludes cash.
Asset Allocation:
Equity Fixed Income Cash & Equivalents
Sector Allocation % OF FUND % OF FUND (As of 02/28/2023)
Regional Allocation % OF FUND % OF FUND (As of February 28, 2023)
Market Capitalization Range of Equity Holdings % OF FUND % OF FUND (As of 02/28/2023)
Developed vs Emerging Markets % OF FUND % OF FUND (As of February 28, 2023)
Maturity Breakdown of Fixed Income Holdings % OF FUND % OF FUND (As of 02/28/2023)
Credit Quality of Fixed Income Holdings % OF FUND % OF FUND (As of February 28, 2023)
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).

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