JFRDX Forty Fund

We believe our differentiated view from the market identifies growth where growth is scarce, positioning our investments to outperform the index over time

NAV
$38.34
As of 05/29/2020

1-Day Change
$0.35 (0.92%)
As of 05/29/2020

YTD Return
5.74%
As of 05/29/2020

Morningstar Rating

As of 04/30/2020

Morningstar Analyst Rating
Morningstar Analyst Rating				 Bronze
As of 04/30/2020

Overview

Navigate Uncertainty

Watch now for a current market perspective and outlook from the investment team

ABOUT THIS FUND

Concentrated large-cap growth fund, leveraging our three decades of experience in high-conviction investing. By investing in our best wide-moat ideas, the Fund seeks to add excess returns over the long term. Given its concentrated nature, the Fund may exhibit moderately higher volatility than its benchmark.

WHY INVEST IN THIS FUND

High-Conviction Approach
Fundamental research-driven approach, investing with conviction in 30 to 40 of our best large-cap growth ideas where we believe we have a differentiated view from the market.

Innovative Wide-Moat Companies
Seeks companies with sustainable competitive advantages that capitalize on their competitive moat to grow market share globally over a multi-year period. Emphasizes dominant companies driving innovation and change through disruptive technologies, products or business models.

Stock Selection Drives Return
Stock picker’s fund designed to deliver long-term growth of capital with a high-conviction approach. Seeks to use risk wisely, leveraging our best ideas in a concentrated portfolio to drive potential outperformance of the index over time.

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

Doug Rao

Portfolio Manager

Industry since 1998. Joined Firm in 2013.

Nick Schommer, CFA

Portfolio Manager

Industry since 2007. Joined Firm in 2013.

Performance

RETURNS (%) (As of 03/31/2020)
Forty Fund - Class D Shares Russell 1000® Growth Index S&P 500® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/01/1997)
Forty Fund - Class D Shares -12.58 -12.58 2.92 12.37 10.69 11.56 10.95
Russell 1000® Growth Index -14.10 -14.10 0.91 11.32 10.36 12.97 7.56
S&P 500® Index -19.60 -19.60 -6.98 5.10 6.73 10.53 7.27
RETURNS (%) (As of 04/30/2020)
Forty Fund - Class D Shares Russell 1000® Growth Index S&P 500® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/01/1997)
Forty Fund - Class D Shares -3.37 -0.50 11.92 16.01 13.54 13.06 11.54
Russell 1000® Growth Index -3.54 -1.39 10.84 15.69 13.34 14.41 8.18
S&P 500® Index -9.26 -9.29 0.86 9.04 9.12 11.69 7.80
CALENDAR YEAR RETURNS (%)
Forty Fund - Class D Shares Russell 1000® Growth Index
 
  2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Forty Fund - Class D Shares 5.62 -7.32 23.65 31.73 8.57 11.75 1.92 29.55 1.43 36.76
Russell 1000® Growth Index 16.71 2.64 15.26 33.48 13.05 5.67 7.08 30.21 -1.51 36.39
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 04/30/2020 Class I Shares)

RISK / REWARD
VS. Russell 1000® Growth Index
3YR 5YR
Information Ratio 0.14 0.12
Alpha 1.28 0.83
Tracking Error 2.87 3.33
Beta 0.93 0.96
R-squared (%) 97.43 95.29
UP/DOWN MARKET CAPTURE (%)
VS. Russell 1000® Growth Index
3YR 5YR
Up Capture Ratio 92.33 98.60
Down Capture Ratio 86.23 95.42
STANDARD DEVIATION 3YR 5YR
Forty Fund 16.38 15.11
Russell 1000® Growth Index 17.33 15.29
SHARPE RATIO 3YR 5YR
Forty Fund 0.88 0.83
Russell 1000® Growth Index 0.80 0.80
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2019)
CLASS D SHARES
Management Fees 0.63%
12b-1 Fees -
Other Expenses 0.16%
Total Gross Expenses 0.79%
Waivers 0.00%
Total Net Expenses 0.79%

Portfolio

Index represents the Russell 1000® Growth Index.

Top Holdings (As of 04/30/2020)
% of Fund
Amazon.com Inc 8.61
Microsoft Corp 8.49
Apple Inc 5.74
Mastercard Inc 5.64
Alphabet Inc 4.92
Total 33.40
View full holdings
Portfolio Characteristics (As of 04/30/2020)
  FUND INDEX
Number of Holdings
Equity Issues
40 533
Market Capitalization
Weighted Average
$450.45B $451.96B
Portfolio Turnover Rate
(1-year trailing)
44.32% -
Price/Earnings Ratio
(1-year forward)
40.06 33.93
Price/Book Ratio
(1-year forward)
11.49 9.73
Earnings Growth Rate
(1-year forward)
3.14% 2.69%

Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 04/30/2020)
Information Technology 38.50 39.61
Consumer Discretionary 14.85 15.03
Communication Services 14.38 11.87
Health Care 13.88 14.88
Industrials 5.48 7.66
Materials 3.21 1.24
Real Estate 2.93 2.33
Financials 2.41 2.86
Consumer Staples 1.79 4.35
Cash & Equivalents 2.57 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of April 30, 2020)
North America 94.10 99.60
Europe 3.33 0.13
Cash & Equivalents 2.57 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of April 30, 2020)
Over $100B 69.99 63.08
$50B to $100B 10.72 12.39
$10B to $50B 13.43 19.81
$5B to $10B 3.29 3.63
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of April 30, 2020)
U.S. 94.10 99.59
Non-U.S. Developed 3.33 0.26
Cash & Equivalents 2.57 -

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