Regular as clockwork

Time to discover more

  • ​Generating monthly income
  • A strong track record of performance
  • Managed by a well-established investment team
  • Delivering a 4.5%* yield

*As at 31 March 2018

Fixed income series
Why invest

Regular as clockwork

  • ​Generating monthly income
  • A strong track record of performance
  • Managed by a well-established investment team
  • Delivering a 4.5%* yield

*As at 31 March 2018

We are seeing ever increasing demand for steady, monthly income payments, particularly from investors in retirement. Our focus on larger, non-cyclical businesses helps us deliver income through different stages of the economic cycle.”

John Pattullo, Fund Manager, Co-Head of Strategic Fixed Income

A monthly paying income fund, which is one of the oldest bond funds in the UK

Designed to

Seek a high income: The managers look for investments that appear to have the potential to rise in price over the long term while minimising risk. Through careful macroeconomic research and bottom-up security selection of bonds of any quality from any type of issuer, the managers aim to achieve a high level of income.

Focus on income generation: The investment team aims to maintain a balanced portfolio of high-yielding assets, including corporate bonds, secured loans and preference shares1, seeking to keep cash levels in the fund to a minimum.

Control risks: Active risk management, including portfolio positioning and derivative use, allows the fund’s sensitivity to changes in interest rates (duration) and exposure to the credit quality of different issuers to be altered in line with the investment team’s outlook.

1. These are similar to bonds in that they usually pay a fixed rate of income. However, a dividend is paid rather than interest and is subject to the issuing company making sufficient profits.

Benefiting from

A proven process: John Pattullo and Jenna Barnard have worked together for more than 15 years2. They are supported by fellow fund manager, Nicholas Ware, an expert in loans, high yield and private equity, as well as a wider, well-resourced team.

Portfolio diversification: The portfolio is a mix of sub-investment grade (high yield bonds and senior secured loans) and investment grade bonds. The asset allocation between the two is carefully managed, while further diversity is achieved through exposure to issuers with different credit ratings and from different sectors.

A broader toolkit: Principally investing in traditional fixed income securities, the team also makes use of derivatives, such as credit default swaps and interest rate futures, aiming to enhance and smooth returns or to add or reduce risk when deemed appropriate.

2. As at 30 June 2017.
Meet the team

John Pattullo

John Pattullo is Co-Head of Strategic Fixed Income at Janus Henderson Investors. He is also a Fund Manager of the Strategic Income and Global Dividend & Income strategies. John joined Henderson in 1997 as a trainee manager in corporate bonds and has been the Co-Head of Strategic Fixed Income since 2005. Prior to joining Henderson he spent four years as a chartered accountant at PricewaterhouseCoopers. John has an MA (Hons) in economics from the University of St. Andrews. He is a member of the Institute of Chartered Accountants of Scotland and an associate member of the Society of Investment Professionals. He has 24 years of financial industry experience.

Jenna Barnard

Jenna Barnard is Co-Head of Strategic Fixed Income at Janus Henderson Investors, a position she has held since 2012. She is also a Fund Manager on the Strategic Income and Global Dividend & Income strategies. Jenna joined Henderson in 2002 as a credit analyst and was promoted to portfolio manager in 2004. Prior to joining Henderson, she worked as an investment analyst with Orbitex Investments. Jenna holds a first class BA (Hons) degree in politics, philosophy and economics from Oxford University. She holds the Chartered Financial Analyst designation, is a member of the Society of Technical Analysts and an Affiliate Member of the UK Society of Investment Professionals. Ms Barnard has 16 years of financial industry experience.

Nicholas Ware

Nicholas Ware-Fredriksson joined Henderson as a Director of Loans in 2009. In 2012, he joined the Strategic Fixed Income team as Director of Strategic Fixed Income. Nicholas' career began in 1995 when he joined PricewaterhouseCoopers and qualified as a Chartered Accountant; he then moved to Ford Credit where he was responsible for establishing its subsidiary in Sweden. After working there for two years Nicholas spent two years as at SEB Merchant Bank originating senior and mezzanine transactions in the Nordic market. He then spent two years at Ahli United Bank (UK) originating small and mid market private equity transactions. In 2004, Nicholas moved to credit fund manager New Amsterdam Capital Management as a Senior Credit Analyst and in 2005 moved to credit hedge fund manager Highland Capital Management as a Senior Portfolio Analyst in which he helped to build its European business. Nicholas graduated from Bournemouth University, with a BA Hons in Business Studies and is a qualified Chartered Accountant.
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Brochure
Webcasts

Watch now

Upcoming webinar

Live Insight: Janus Henderson Fixed Interest Monthly Income Fund

John Pattullo, Jenna Barnard, Nicholas Ware

In this webcast, Jenna Barnard, John Pattullo and Nicholas Ware, the Co-Managers of the Janus Henderson Fixed Interest Monthly Income Fund, share their views and assessment of the global economic environment.

As well as a market update, they covered the performance of the fund, providing a summary of the current positioning and outlook for the near future.


Nicholas Ware

Bonds for Income

Join Nicholas Ware, Director of Strategic Fixed Income

Nicholas discusses how to:

  • Understand the historical misforecasting of bond yields and the current backdrop for bond investing
  • Identify appropriate strategies for income seeking clients
  • Remain disciplined in late cycle investing & how to recognise these signals
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Past performance is not a guide to future performance. The value of an investment and the income from it may go down as well as up and you may lose the amount originally invested.

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