Global IG CLO Active Core UCITS

The Fund aims to provide a return from a combination of income and capital growth over the long term by investing in an actively managed portfolio of AAA to BBB-rated collateralised loan obligations (CLOs). The Fund is actively managed with reference to the J.P. Morgan US CLOIE BBB Index, which is broadly representative of the bonds in which they may invest.

The Fund will invest at least 80% of its Net Asset Value in eligible CLOs of any maturity that are rated AAA to BBB- (or equivalent by a nationally recognised ratings agency) at the time of purchase with a focus on either European or US CLOs In case securities in the portfolio are downgraded below a rating of BBB- (or equivalent), the Investment Manager will seek to sell the relevant securities as soon as reasonably possible, provided that it determines that it is in the best interests of investors.

Portfolio management strategies and views are developed with inputs from discussions within the Janus Henderson CLO portfolio management team and the wider fixed income group. Analysts are allocated to research specific opportunities (entry, exit or otherwise) and focus on the guiding principles of building a deep understanding of collateral (type, jurisdiction, historical performance), Counterparties (Manager, Servicer, Hedge providers), Control (legal, rights of noteholder, control in default), Cash flow (expected, stressed, allocation). As part of this process EU securitisation regulations are specifically considered. This internal research is complemented by data from ratings agencies, investment banks, independent research and securitisation data providers. Any recommendation is subject to a minimum ‘four eyes’ review before execution.