JNPSX Small Cap Value Fund

Defensive-minded specialists aiming to identify undervalued small-cap opportunities

NAV
$18.18
As of 10/16/2020

1-Day Change
-$0.07 (-0.38%)
As of 10/16/2020

YTD Return
-20.72%
As of 10/16/2020

Morningstar Rating

As of 09/30/2020

Morningstar Analyst Rating
Morningstar Analyst Rating				Silver
As of 09/30/2020

Closed to new investors.

Overview

ABOUT THIS FUND

As defensive value specialists, we look to invest in high quality companies with strong management teams, stable balance sheets, and durable competitive advantages that are trading at attractive valuations. We seek to achieve excess returns over full market cycles, with less risk than our benchmark and peers as measured by standard deviation, beta and down market capture.

WHY INVEST IN THIS FUND

Attractive Reward/Risk
Our disciplined valuation process measures downside risk before upside potential and invests in securities with favorable reward/risk ratios.

High-Conviction Process
The portfolio typically holds between 60 to 90 stocks with business fundamentals considered more important than fluctuations in the wider economy.

Different Than the Benchmark
The benchmark is not used as a starting point for portfolio construction, which should lead to high active share.

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

Justin Tugman, CFA

Portfolio Manager

Industry since 2000. Joined Firm in 2004.

Craig Kempler, CFA

Portfolio Manager

Industry since 2001. Joined Firm in 2005.

Performance

RETURNS (%) (As of 09/30/2020)
Small Cap Value Fund - Class D Shares Russell 2000® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(10/21/1987)
Small Cap Value Fund - Class D Shares -2.41 -25.77 -20.59 -5.10 3.61 6.23 N/A
Russell 2000® Value Index 2.56 -21.54 -14.88 -5.13 4.11 7.09 N/A
RETURNS (%) (As of 09/30/2020)
Small Cap Value Fund - Class D Shares Russell 2000® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(10/21/1987)
Small Cap Value Fund - Class D Shares -2.41 -25.77 -20.59 -5.10 3.61 6.23 N/A
Russell 2000® Value Index 2.56 -21.54 -14.88 -5.13 4.11 7.09 N/A
CALENDAR YEAR RETURNS (%)
Small Cap Value Fund - Class D Shares Russell 2000® Value Index
 
  2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Small Cap Value Fund - Class D Shares 18.00 -3.33 9.07 29.77 7.37 -2.57 26.42 12.72 -13.08 26.09
Russell 2000® Value Index 24.50 -5.50 18.05 34.52 4.22 -7.47 31.74 7.84 -12.86 22.39

RETURNS-BASED STATISTICS (As of 09/30/2020 Class I Shares)

RISK / REWARD
VS. Russell 2000® Value Index
3YR 5YR
Information Ratio 0.01 -0.08
Alpha -1.20 0.06
Tracking Error 6.02 5.58
Beta 0.82 0.81
R-squared (%) 95.19 94.91
UP/DOWN MARKET CAPTURE (%)
VS. Russell 2000® Value Index
3YR 5YR
Up Capture Ratio 78.05 77.89
Down Capture Ratio 85.40 80.61
STANDARD DEVIATION 3YR 5YR
Small Cap Value Fund 19.89 17.16
Russell 2000® Value Index 23.56 20.74
SHARPE RATIO 3YR 5YR
Small Cap Value Fund -0.34 0.15
Russell 2000® Value Index -0.29 0.14
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/2019)
CLASS D SHARES
Management Fees 0.64%
Other Expenses 0.19%
Total Gross Expenses 0.83%
Waivers 0.00%
Total Net Expenses 0.83%

Portfolio

Index represents the Russell 2000® Value Index.

Top Holdings (As of 09/30/2020)
% of Fund
UniFirst Corp/MA 3.04
STAG Industrial Inc 3.01
Hanover Insurance Group Inc 2.89
Columbia Sportswear Co 1.96
WNS Holdings Ltd (ADR) 1.92
Lincoln Electric Holdings Inc 1.91
Atlantic Union Bankshares Corp 1.87
Sonoco Products Co 1.84
United Community Banks Inc/GA 1.84
GATX Corp 1.82
Total 22.10
View full holdings
Portfolio Characteristics (As of 09/30/2020)
  FUND INDEX
Number of Holdings
Equity Issues
85 1459
Market Capitalization
Weighted Average
$3.01B $1.86B
Portfolio Turnover Rate
(1-year trailing)
61.76% -
Price/Earnings Ratio
(1-year forward)
23.53 18.23
Price/Book Ratio
(1-year forward)
2.14 1.42
Earnings Growth Rate
(1-year forward)
-19.83% -25.75%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 09/30/2020)
Financials 24.87 26.58
Industrials 18.01 16.83
Information Technology 9.73 6.00
Consumer Discretionary 9.41 13.29
Real Estate 8.82 9.86
Materials 8.75 5.62
Consumer Staples 5.49 3.66
Health Care 5.44 6.89
Utilities 4.32 4.99
Energy 1.50 3.92
Communication Services 0.81 2.36
Cash & Equivalents 2.85 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of September 30, 2020)
North America 93.62 99.37
Asia/Pacific Ex Japan 1.92 0.04
Europe 1.61 0.49
Cash & Equivalents 2.85 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of September 30, 2020)
$5B to $10B 17.88 2.35
$1B to $5B 67.81 66.98
$500M to $1B 7.46 16.69
$250M to $500M 3.60 8.56
$100M to $250M 0.40 4.06
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of September 30, 2020)
U.S. 93.62 98.99
Non-U.S. Emerging 1.92 0.10
Non-U.S. Developed 1.61 0.91
Cash & Equivalents 2.85 -

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