Janus Henderson Horizon Pan European Dividend Income Fund

A2 Acc EUR ISIN code: LU1314336543
Why European Equity Income

Europe is home to a diverse range of often mis-priced companies. This creates opportunities for a disciplined dividend-focused value approach that removes sentiment from its process. The fund is constructed with a focus on firms that on aggregate typically have: higher dividend yield; a lower valuation; and a high return on capital relative to their market peers. Many of these companies are globally diversified, while headquartered in Europe.

On a relative basis (using long-term metrics) when compared to other global assets, the dividend yield on European equities currently looks competitive when compared with government bonds, high-quality corporate bonds or equities in other developed regions.

With an improving macro-economic backdrop there is further potential for long-term investment growth in this region, particularly for income-seeking investors.

Investment Approach
  • Aims to provide an above-benchmark dividend yield with the potential for capital growth​
  • Bottom-up analysis with a qualitative overlay that helps the manager to control risk while seeking to maximise performance
  • Focus on firms that on aggregate typically have: higher dividend yield; a lower valuation; and a high return on capital relative to their market peers
  • Proprietary analytical model to provide theoretical ‘fair value’ prices for each stock in the investment universe
  • By removing sentiment and following a disciplined process that incorporates analysis of meaningful measures, the manager believes it is possible to identify stocks that have been mis-priced
Meet the team

The fund is managed by the highly-experienced European equities specialist, Nick Sheridan. Nick has over 25 years’ industry experience during which he has developed his disciplined stock-selection process. Nick joined Henderson following its acquisition of New Star.

Nick is supported by Henderson’s broad Pan European Equity team, a group of 19 experienced investment professionals who leverage each other’s capabilities and ideas, with each member playing a role in identifying new opportunities. The team has a focused approach that allows it to maximise the effort spent on research in areas where it can add the most value. Cross pollination of ideas is encouraged, although ultimate responsibility for investment decisions rests directly with each fund manager.


Investment objective

The investment objective of the Pan European Dividend Income Fund is to provide an above-benchmark dividend yield with the potential for capital growth. The Fund will invest primarily in equity and equity related securities of Pan European companies.

Overview

The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.

Potential investors must read the prospectus, and where relevant, the key investor information document before investing.

This website is for financial promotion purposes and is not investment advice.

Classifications

Type: 

SICAV

Risk rating

ISIN code: LU1314336543A2 Acc EUR Currency EUR NAV 9.3000 Change 0.3200% Price date 13/12/2018
 
ISIN code: LU1314337350A2 Acc HUSD Currency USD NAV 9.7800 Change 0.4100% Price date 13/12/2018
ISIN code: LU1314336469A3 Inc EUR Currency EUR NAV 8.5600 Change 0.2300% Price date 13/12/2018
ISIN code: LU1678963916H2 EUR Currency EUR NAV 9.0100 Change 0.3300% Price date 13/12/2018
ISIN code: LU1678964054H3 EUR Currency EUR NAV 8.7100 Change 0.2300% Price date 13/12/2018

Ratings and awards

Morningstar 3 Star
Performance

Past performance is not a guide to future performance. All performance data includes both income and capital gains or losses and reflects the deduction of any ongoing charges or other fund expenses.

Past performance is not a guide to future performance. Performance is shown on a Net Asset Value (NAV) basis with net income reinvested where applicable.

Discrete performance

Share classSep 2017 - Sep 2018Sep 2016 - Sep 2017Sep 2015 - Sep 2016Sep 2014 - Sep 2015Sep 2013 - Sep 2014
A2 Acc EUR0.29%14.73%---
A2 Acc HUSD3.01%16.30%---
A3 Inc EUR0.51%14.64%---
H2 EUR-----
H3 EUR-----
© Morningstar 2018. All rights reserved. NAV-NAV, gross income reinvested where applicable.Source: Morningstar, based on market prices at close on the date shown. We are not responsible for the accuracy or completeness of the information supplied by Morningstar. We take care to ensure that the information provided by Morningstar is correct but we neither warrant, represent nor guarantee the contents of the information, nor do we accept any responsibility for errors, inaccuracies, omissions or any inconsistencies therein. Prices may be subject to change, errors and omissions excepted. Annual return to 30/09/2018

Cumulative performance

Share classLast monthYTD1 Year3 YearsSince inception
A2 Acc EUR-6.16-11.26%-11.43%-1.59%-7.00%
A2 Acc HUSD-5.96-8.94%-8.94%3.60%-2.20%
A3 Inc EUR-6.24-11.29%-11.46%-1.63%-7.04%
H2 EUR-6.15-10.62%---9.90%
H3 EUR-6.14-10.66%---9.94%
© Morningstar 2018. All rights reserved. NAV-NAV, gross income reinvested where applicable.Source: Morningstar, based on market prices at close on the date shown. We are not responsible for the accuracy or completeness of the information supplied by Morningstar. We take care to ensure that the information provided by Morningstar is correct but we neither warrant, represent nor guarantee the contents of the information, nor do we accept any responsibility for errors, inaccuracies, omissions or any inconsistencies therein. Prices may be subject to change, errors and omissions excepted. Data as at 13/12/2018
Top 10 holdings
Geographic breakdown
Sector breakdown
Dividends
Key data
Structure SICAV
Launch date 23/11/2015
Base currency EUR
Sector Morningstar Europe OE Europe Equity Income
Benchmark MSCI Europe Net Return (EUR)
Year end 30-Jun
Valuation point 13:00
Pricing basis Single Priced
Fund status Open for new investment

A2 Acc EUR

Distribution type Accumulation Gross
ISIN code LU1314336543
WKN Code A1432Z
Valoren Code 30464612
Initial charge 5.00%
Annual charges 1.20%
Launch date 23/11/2015
Currency EUR
Performance FeeCertain classes within a fund may be able to charge a performance related management fee, which becomes payable when that class outperforms its performance fee benchmark and previous high watermark (where applicable).An indication of the historic performance fee payable can be found in the relevant KIID.10% of the 'Relevant Amount'
Minimum Lump Sum EUR2,500.00
Additional lump sum investment EUR500.00

A2 Acc HUSD

Distribution type Accumulation Gross
ISIN code LU1314337350
WKN Code A14320
Valoren Code 30464613
Initial charge 5.00%
Annual charges 1.20%
Launch date 23/11/2015
Currency USD
Performance FeeCertain classes within a fund may be able to charge a performance related management fee, which becomes payable when that class outperforms its performance fee benchmark and previous high watermark (where applicable).An indication of the historic performance fee payable can be found in the relevant KIID.10% of the 'Relevant Amount'
Minimum Lump Sum USD2,500.00
Additional lump sum investment USD500.00

A3 Inc EUR

Distribution type Income Gross
ISIN code LU1314336469
WKN Code A14321
Valoren Code 30464614
Initial charge 5.00%
Annual charges 1.20%
Launch date 23/11/2015
Dividend pay dates 20-Jul
XD dates 01-Jul
Currency EUR
Performance FeeCertain classes within a fund may be able to charge a performance related management fee, which becomes payable when that class outperforms its performance fee benchmark and previous high watermark (where applicable).An indication of the historic performance fee payable can be found in the relevant KIID.10% of the 'Relevant Amount'
Minimum Lump Sum EUR2,500.00
Additional lump sum investment EUR500.00

H2 EUR

Distribution type Accumulation Gross
ISIN code LU1678963916
WKN Code A2JDAZ
Valoren Code 39591141
Initial charge 5.00%
Annual charges 0.60%
Launch date 15/12/2017
Currency EUR
Performance FeeCertain classes within a fund may be able to charge a performance related management fee, which becomes payable when that class outperforms its performance fee benchmark and previous high watermark (where applicable).An indication of the historic performance fee payable can be found in the relevant KIID.10% of the 'Relevant Amount'
Minimum Lump Sum EUR750,000.00
Additional lump sum investment EUR2,500.00

H3 EUR

Distribution type Income Gross
ISIN code LU1678964054
WKN Code A2JDA0
Valoren Code 39591177
Initial charge 5.00%
Annual charges 0.60%
Launch date 15/12/2017
Dividend pay dates 20-Jul
XD dates 01-Jul
Currency EUR
Performance FeeCertain classes within a fund may be able to charge a performance related management fee, which becomes payable when that class outperforms its performance fee benchmark and previous high watermark (where applicable).An indication of the historic performance fee payable can be found in the relevant KIID.10% of the 'Relevant Amount'
Minimum Lump Sum EUR750,000.00
Additional lump sum investment EUR2,500.00

Manager(s)

General risks
  • ​The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • ​Past performance is not a guide to future performance.
  • ​You should note that your tax treatment in relation to any investments held outside an ISA will depend on your individual circumstances and may be subject to change in the future. Governments may change the tax rules which affect you or the Funds in which you have invested.
  • ​If you invest through a third party provider you are advised to consult them directly as charges, performance and terms and conditions may differ materially.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
Specific risks
  • Investment management techniques that have worked well in normal market conditions could prove ineffective or detrimental at other times.
  • Shares can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
  • This fund is designed to be used only as one component in several in a diversified investment portfolio. Investors should consider carefully the proportion of their portfolio invested into this fund.
  • The Fund could lose money if a counterparty with which it trades becomes unwilling or unable to meet its obligations to the Fund.
  • If a Fund has a high exposure to a particular country or geographical region it carries a higher level of risk than a Fund which is more broadly diversified.
  • Derivatives use exposes the Fund to risks different from, and potentially greater than, the risks associated with investing directly in securities and may therefore result in additional loss, which could be significantly greater than the cost of the derivative.
  • Changes in currency exchange rates may cause the value of your investment and any income from it to rise or fall.
  • If the Fund or a specific share class of the Fund seeks to reduce risks (such as exchange rate movements), the measures designed to do so may be ineffective, unavailable or detrimental.
  • Any security could become hard to value or to sell at a desired time and price, increasing the risk of investment losses.
General information

Before you invest

Share class:

Key documents

Announcements

Important message