Janus Henderson UK Property PAIF Feeder Fund

A Acc ISIN code: GB00BYP82B13

Investment objective

To achieve a high income together with some growth of both income & capital through investment solely in shares of the Janus Henderson UK Property PAIF. The Fund may also hold cash or near cash only where necessary to meet redemption requirments.

Overview

About the feeder fund

The Henderson UK Property PAIF Feeder Fund is a unit trust for those investors who cannot, or do not wish to, invest directly in the Henderson UK Property PAIF. The Feeder Fund solely invests in shares in the PAIF and should therefore broadly perform in line with the PAIF. Further information on the PAIF, fund literature and manager updates can be found on the main UK Property PAIF fund page.

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.

ISIN code: GB00BYP82B13A Acc Currency GBP Bid 2.2058 Offer 2.3218 Change 0.0600% Price date 14/12/2017
 
ISIN code: GB00BYP82996A Inc Currency GBP Bid 1.0001 Offer 1.0526 Change 0.0700% Price date 14/12/2017

Ratings and awards

Performance

Past performance is not a guide to future performance. All performance data includes both income and capital gains or losses but does not reflect any ongoing charges or other fund expenses.

Discrete performance

Share classSep 2016 - Sep 2017Sep 2015 - Sep 2016Sep 2014 - Sep 2015Sep 2013 - Sep 2014Sep 2012 - Sep 2013
A Acc7.81%-5.60%9.78%10.36%4.36%
A Inc7.89%-5.61%9.70%10.31%4.25%
© Morningstar 2017. All rights reserved. bid to bid, net income reinvested.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 30/09/2017

Cumulative performance

Share class1 Year2 Years3 Years4 Years5 Years
A Acc6.81%2.11%10.21%22.80%29.58%
A Inc6.87%2.20%10.22%22.78%29.42%
© Morningstar 2017. All rights reserved. bid to bid, net income reinvested.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 13/12/2017
Top 10 holdings
Geographic breakdown
Sector breakdown
Dividends
Key data
Asset class Property Equities
Structure Unit Trust
Launch date 27/05/2016
Base currency GBP
Sector IA Property
Benchmark N/A
Year end 31-May
Valuation point 12:00
Pricing basis Dual Priced

A Acc

Distribution type Accumulation Net
ISIN code GB00BYP82B13
Initial charge 5.00%
Annual charges 1.5%
Dividend pay dates 31-Jul, 31-Oct, 31-Jan, 30-Apr
XD dates 01-Jun, 01-Sep, 01-Dec, 01-Mar
Currency GBP
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.N/A

A Inc

Distribution type Income Net
ISIN code GB00BYP82996
Initial charge 5.00%
Annual charges 1.5%
Dividend pay dates 31-Jul, 31-Oct, 31-Jan, 30-Apr
XD dates 01-Jun, 01-Sep, 01-Dec, 01-Mar
Currency GBP
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.N/A
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.
  • 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.
  • 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.
  • This Fund is dual priced. When the Fund is growing in size the prices at which you buy or sell shares in the fund will incorporate the transaction costs incurred in buying physical properties. When the Fund is shrinking in size the prices that you buy or sell shares in the Fund at will incorporate the transaction costs incurred in selling physical properties. The difference between these prices is called the 'creation - cancelation price spread'. This spread is currently c. 5% and reflects the high transaction costs of buying and selling commercial property. Typically the buying price of an individual commercial property can be 7-8% higher than the selling price. The spread of the Fund is not fixed and may vary over time depending on the composition of the Fund.
  • Measures designed to reduce the impact of certain risks may not be available or may be ineffective.
  • The Fund's value may fall where it has concentrated exposure to a particular industry that is heavily affected by an adverse event.
  • Leverage arises from entering into contracts or derivatives whose terms have the effect of magnifying an outcome, meaning profits and losses from investment can be greater.
  • The Fund contains assets which may be hard to value or sell at the time and price intended. In particular, property investments may take a considerable time to sell. When many investors want to sell their shares, the Fund may have to delay processing requests so that certain assets or properties can be sold first. This is known as deferring redemptions.
  • Tenants in the Fund's properties may become unable to pay their rent. As a result, the Fund's income may be impacted and further costs incurred.
  • Valuations are determined by independent property experts. The valuation of property is generally a matter of valuer's opinion. The amount raised when a property is sold may be less than the valuation.
General information

Funds incur costs as a necessary part of buying and selling the underlying investments, these are otherwise known as portfolio transaction costs, and include charges such as broker commission and Stamp Duty. View the portfolio transaction costs across the Henderson UK Fund range.

Before you invest

Share class:

Announcements

Important message

Fund name changes

Please note that from the 15 December 2017 funds previously named Janus or Henderson have been renamed Janus Henderson. This change aligns our product names with our name, Janus Henderson Investors, following the merger of Janus Capital and Henderson Global Investors in May 2017.

This name change does not impact on the management of the underlying funds and investors and advisers are not required to take any action.