JNRFX Research Fund

Sector specialists conduct independent research seeking to create a high-conviction portfolio of best ideas in equities, regardless of market cap, geography or sub-sector

NAV
$61.52
As of 10/23/2020

1-Day Change
$0.37 (0.61%)
As of 10/23/2020

YTD Return
23.56%
As of 10/23/2020

Overview

ABOUT THIS FUND

By investing in the best ideas from each global research sector team, this U.S. large-cap growth fund seeks long-term growth of capital with volatility similar to its peers. Our analysts identify industry-leading companies with brand power, enduring business models and strong competitive positioning.

WHY INVEST IN THIS FUND

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 fund. 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. All ideas and position sizes are debated and fully vetted before entry into the portfolio.

Minimize the Macro
The Fund'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.

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

Janus Henderson Central Research Team

The Janus Henderson Central Research Team is overseen by the Portfolio Oversight Team, headed by Director of Research, Matt Peron.

Performance

RETURNS (%) (As of 09/30/2020)
Research Fund - Class D Shares Russell 1000® Growth Index S&P 500® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/03/1993)
Research Fund - Class D Shares 11.79 20.20 32.37 19.16 16.71 15.30 11.92
Russell 1000® Growth Index 13.22 24.33 37.53 21.67 20.10 17.25 10.46
S&P 500® Index 8.93 5.57 15.15 12.28 14.15 13.74 9.84
RETURNS (%) (As of 09/30/2020)
Research Fund - Class D Shares Russell 1000® Growth Index S&P 500® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/03/1993)
Research Fund - Class D Shares 11.79 20.20 32.37 19.16 16.71 15.30 11.92
Russell 1000® Growth Index 13.22 24.33 37.53 21.67 20.10 17.25 10.46
S&P 500® Index 8.93 5.57 15.15 12.28 14.15 13.74 9.84
CALENDAR YEAR RETURNS (%)
Research Fund - Class D Shares Russell 1000® Growth Index
 
  2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Research Fund - Class D Shares 21.07 -3.84 16.73 35.20 14.07 5.41 1.48 26.23 -2.77 35.40
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 09/30/2020 Class I Shares)

RISK / REWARD
VS. Russell 1000® Growth Index
3YR 5YR
Information Ratio -1.12 -1.54
Alpha -1.88 -2.79
Tracking Error 2.18 2.15
Beta 0.99 1.00
R-squared (%) 98.69 98.23
UP/DOWN MARKET CAPTURE (%)
VS. Russell 1000® Growth Index
3YR 5YR
Up Capture Ratio 94.19 92.49
Down Capture Ratio 101.03 105.43
STANDARD DEVIATION 3YR 5YR
Research Fund 19.04 16.16
Russell 1000® Growth Index 19.05 16.00
SHARPE RATIO 3YR 5YR
Research Fund 0.92 0.97
Russell 1000® Growth Index 1.05 1.18
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2019)
CLASS D SHARES
Management Fees 0.53%
Other Expenses 0.16%
Total Gross Expenses 0.69%
Waivers 0.00%
Total Net Expenses 0.69%

Portfolio

Index represents the Russell 1000® Growth Index.

Top Holdings (As of 09/30/2020)
% of Fund
Apple Inc 9.53
Amazon.com Inc 8.51
Microsoft Corp 8.15
Alphabet Inc 4.46
Facebook Inc 4.19
NVIDIA Corp 3.33
Adobe Inc 3.29
Visa Inc 2.90
Mastercard Inc 2.86
salesforce.com Inc 2.25
Total 49.47
View full holdings
Portfolio Characteristics (As of 09/30/2020)
  FUND INDEX
Number of Holdings
Equity Issues
80 447
Market Capitalization
Weighted Average
$619.49B $663.24B
Portfolio Turnover Rate
(1-year trailing)
37.65% -
Price/Earnings Ratio
(1-year forward)
46.57 43.75
Price/Book Ratio
(1-year forward)
13.40 15.96
Earnings Growth Rate
(1-year forward)
11.92% 12.38%
Research Sector Allocations % OF FUND % of Index % OF FUND % of Index (As of )
Technology 37.96 37.88
Consumer 19.28 19.33
Health Care 14.16 14.04
Communications 13.05 12.91
Financials 9.13 9.21
Industrials & Materials 5.96 6.55
Energy & Utilities 0.14 0.08
Cash & Equivalents 0.32 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of September 30, 2020)
North America 98.98 99.54
Asia/Pacific Ex Japan 0.70 0.17
Cash & Equivalents 0.32 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of September 30, 2020)
Over $100B 65.62 69.60
$50B to $100B 10.90 10.39
$10B to $50B 20.18 17.17
$5B to $10B 2.25 2.27
$1B to $5B 0.73 0.56
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of September 30, 2020)
U.S. 98.98 99.55
Non-U.S. Developed 0.70 0.33
Cash & Equivalents 0.32 -

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