Actively managed, value-biased portfolio that invests in undervalued companies operating in European countries that use the euro as their currency (the Euroland).
The manager, Nick Sheridan, believes that companies offering real value for investors are rare, given the volume of analysis and corporate information in the marketplace. By identifying good businesses that are undervalued, or which have been unfairly punished by market sentiment, he believes that it is possible to outperform the market in the long term. Close scrutiny can help to explain whether a company’s valuation is justified (a possible ‘value trap’), or if its share price does not correctly value the quality and value of its assets, earnings power and potential for future growth.
Nick’s strategy covers both the Euroland and Pan European areas. With the former, Nick takes more of a capital growth approach, while with the latter his focus is on identifying those companies able to offer a consistent or increasing dividend. He tends to avoid the more peripheral markets in Europe, reflecting the quality of publically available information on companies. What he is looking for with any particular company is the ability of that company to reinvest substantial cash flows back into the business, and grow its earnings profile over the long term. He tends to find that the compounding effect of money being reinvested by companies increases the likelihood of capital appreciation in future.
This website is for financial promotion purposes and is not investment advice.
John Bennett is Director of European Equities at Janus Henderson Investors and Fund Manager on the Janus Henderson Continental European and Pan-European long-only and long/short strategies. John has held these roles since 2011 when his previous company, Gartmore, was acquired by Henderson. Prior to Gartmore, he served as fund manager at Global Asset Management for 17 years. During this time, he managed their flagship European long-only and European equity long/short hedge funds. Before this, he was a fund manager at Ivory & Sime.
John has 32 years of financial industry experience.
Nick Sheridan is a Portfolio Manager of European equities at Janus Henderson Investors, a position he has held since 2009. Nick joined Henderson in 2009 as part of the acquisition of New Star, where he was a portfolio manager for two years. Before New Star, he was a director of European equities at Tilney for six years. He began his fund management career at BWD Rensburg in 1990 and entered the industry as a buy-side analyst at Ashton Tod McLaren in 1986.
Nick graduated with a BA degree (Hons) in politics from Liverpool University. He received the Securities Institute Diploma from the Chartered Institute for Securities & Investment and has 33 years of financial industry experience.