JANVX 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
$86.21
As of 08/07/2020

1-Day Change
$0.04 (0.05%)
As of 08/07/2020

YTD Return
4.48%
As of 08/07/2020

Morningstar Rating

As of 07/31/2020

Morningstar Analyst Rating
Morningstar Analyst Rating				Silver
As of 07/31/2020

Closed to new investors.

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 06/30/2020)
Venture Fund - Class D Shares Russell 2000® Growth Index Russell 2000® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(04/30/1985)
Venture Fund - Class D Shares 29.70 -3.77 0.73 8.84 7.77 14.17 11.92
Russell 2000® Growth Index 30.58 -3.06 3.48 7.86 6.86 12.92 8.17
Russell 2000® Index 25.42 -12.98 -6.63 2.01 4.29 10.50 9.13
RETURNS (%) (As of 07/31/2020)
Venture Fund - Class D Shares Russell 2000® Growth Index Russell 2000® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(04/30/1985)
Venture Fund - Class D Shares 17.21 0.28 4.25 10.13 8.58 14.36 12.02
Russell 2000® Growth Index 17.56 0.27 6.00 8.77 7.49 12.58 8.25
Russell 2000® Index 13.32 -10.57 -4.59 2.69 5.10 10.07 9.19
CALENDAR YEAR RETURNS (%)
Venture Fund - Class D Shares Russell 2000® Growth Index
 
  2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Venture Fund - Class D Shares 27.07 2.20 17.22 41.89 10.32 -0.79 7.18 24.28 -6.60 30.79
Russell 2000® Growth Index 29.09 -2.91 14.59 43.30 5.60 -1.38 11.32 22.17 -9.31 28.48
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 06/30/2020 Class I Shares)

RISK / REWARD
VS. Russell 2000® Growth Index
3YR 5YR
Information Ratio 0.31 0.27
Alpha 1.25 1.29
Tracking Error 3.26 3.59
Beta 0.95 0.93
R-squared (%) 98.09 97.14
UP/DOWN MARKET CAPTURE (%)
VS. Russell 2000® Growth Index
3YR 5YR
Up Capture Ratio 91.42 91.26
Down Capture Ratio 88.02 87.56
STANDARD DEVIATION 3YR 5YR
Venture Fund 22.00 19.35
Russell 2000® Growth Index 22.97 20.55
SHARPE RATIO 3YR 5YR
Venture Fund 0.33 0.34
Russell 2000® Growth Index 0.27 0.28
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2019)
CLASS D SHARES
Management Fees 0.64%
12b-1 Fees -
Other Expenses 0.16%
Total Gross Expenses 0.80%
Waivers 0.00%
Total Net Expenses 0.80%

Portfolio

Index represents the Russell 2000® Growth Index.

Top Holdings (As of 06/30/2020)
% of Fund
Catalent Inc 3.38
Nice Ltd (ADR) 3.03
Descartes Systems Group Inc 1.88
Clarivate PLC 1.88
SS&C Technologies Holdings Inc 1.77
Paylocity Holding Corp 1.59
Broadridge Financial Solutions Inc 1.57
LPL Financial Holdings Inc 1.47
Redfin Corp 1.44
ServiceMaster Global Holdings Inc 1.40
Total 19.41
View full holdings
Portfolio Characteristics (As of 06/30/2020)
  FUND INDEX
Number of Holdings
Equity Issues
130 1077
Market Capitalization
Weighted Average
$5.32B $2.48B
Portfolio Turnover Rate
(1-year trailing)
19.77% -
Price/Earnings Ratio
(1-year forward)
38.50 33.87
Price/Book Ratio
(1-year forward)
5.17 5.54
Earnings Growth Rate
(1-year forward)
-19.45% -15.01%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 06/30/2020)
Information Technology 31.93 21.23
Health Care 28.87 34.35
Industrials 14.52 13.05
Consumer Discretionary 8.07 12.67
Financials 4.37 4.30
Materials 4.16 2.67
Real Estate 2.89 3.84
Consumer Staples 2.12 3.16
Communication Services 1.04 2.63
Energy 0.04 0.17
Cash & Equivalents 1.99 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of June 30, 2020)
North America 89.23 99.73
Africa/Mideast 4.25 0.12
Europe 2.80 0.13
Asia/Pacific Ex Japan 1.16 0.02
Latin America 0.57 -
Cash & Equivalents 1.99 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of June 30, 2020)
$10B to $50B 18.91 0.06
$5B to $10B 17.08 2.84
$1B to $5B 51.61 82.10
$500M to $1B 6.36 9.48
$250M to $500M 2.44 3.75
$100M to $250M 0.23 1.59
N/A 1.38 0.15
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of June 30, 2020)
U.S. 86.31 99.40
Non-U.S. Developed 9.98 0.55
Non-U.S. Emerging 1.72 0.05
Cash & Equivalents 1.99 -

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