Global Multi-
Strategy Fund
Global Multi-
Strategy Fund
Diversification can be especially valuable
in turbulent and unpredictable markets
Most investors’ portfolios have traditionally relied on equities and bonds to provide their primary source of returns. However, as markets and investor behaviours evolve, so too do investment opportunities.
Declining bond yields and historically low cash rates, coupled with geopolitical uncertainty and a slowing global economy, has resulted in lower return expectations across a range of asset classes.
The gap between what investors are seeking, and what their investment portfolios have been delivering, is widening. As such, investors are increasingly looking to alternative sources of returns.
Our competitive advantage
Diversifying absolute return strategy
A globally positioned multi-strategy portfolio seeking to provide positive absolute return with low to moderate volatility and low correlation to both traditional and alternative asset classes.
A distinct range of return sources
The skill-based market neutral nature and low expected correlations between the underlying strategies seeks to enhance risk-adjusted returns for investors.
Explicit portfolio protection strategy
History shows that during periods of market stress, the prices for seemingly unrelated investments can become highly correlated. An explicit top-down portfolio ‘protection’ strategy seeks to generate uncorrelated positive returns during these periods of market stress.
Stable and experienced global multi-strategy team
A collaborative team of highly experienced investment professionals with a diversified skill set based in the UK, US and Australia.
A turn-key alternatives solution
The Janus Henderson Global Multi-Strategy Fund seeks absolute returns through investing across a diversified suite of skill-based, market neutral strategies, combined with a risk aware approach to portfolio construction and protection.
The Fund is designed to provide positive absolute returns, with low to moderate volatility and low correlation to both traditional and alternative asset classes. Our seasoned investment team seeks to deliver attractive risk-adjusted returns, regardless of market conditions.
A continuous global research effort aims to identify new sources of returns and avoid crowded trades.
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Diversification works well in up markets, but is unreliable in down markets – like March 2020 – when investor panic induces risk assets to fall in a synchronised manner. We address this issue by running a set of protection strategies that aim to provide positive returns in down markets and are the mirror image of the diversified return-seeking strategies we use to generate returns in more normal markets.”
David Elms, Head of Diversified Alternatives |
Investment strategies
The Fund invests in a diversified set of strategies at a bottom-up level, including convertible arbitrage, event driven, price pressure, risk transfer and equity market neutral, combined with a top-down protection strategy.
Convertible
Arbitrage
Aims to capitalise on mispricings of convertible bonds.
Event
Driven
Looks to exploit pricing inefficiencies around corporate events or capital structures.
Equity Market
Neutral
Seeks to deliver alpha by investing long and short across pan-European equities.
Price
Pressure
Aims to generate returns through the provision of capital to liquidity opportunities.
Risk
Transfer
Looks to capitalise on supply/demand-driven imbalances in the derivatives market.
Fixed Income, Currency and
Commodity Relative Value
Invests in Fixed Income, Currency and Commodity Relative Value opportunities.
Portfolio
Protection
Seeks to mitigate left tail risk through a multi-faceted protection strategy.
Ready to invest? Explore our fund page for more information
| Fund Facts | |
|---|---|
| Asset Class | Alternatives |
| Benchmark | Bloomberg AusBond Bank Bill Index |
| Target return | Benchmark plus 7% p.a. (before fees) over rolling 3-year periods |
| Expected volatility | Low to moderate, 4-8% long term |
| Risk profile | Very High |
| Year End | 30 June |
| APIR code | HGI4648AU |
| Inception Date | June 2020 |
| Portfolio Managers | David Elms, Steve Cain |
| Management Fee | 0.90% p.a. |
| Performance Fee | 20% of the amount of outperformance of the current day NAV relative to prior day NAV above the Benchmark (after management fees) and subject to a high watermark |
| Indirect Costs | 0.08% p.a. |
| Buy/Sell spread | The Fund currently does not charge a buy/sell spread |
| Unit pricing frequency | Daily |
| Distribution Frequency | Annually (if any) |
Meet the Portfolio Managers
The Janus Henderson Diversified Alternatives team is made up of 23 investment professionals situated in the UK, US and Australia. The team is responsible for $17.8 billion (as at 31 December 2022) in client assets and manages a range of investment solutions including multi-strategy, alternative risk premia, alpha capture and global commodities/managed futures.
David Elms
Head of Diversified Alternatives | Portfolio Manager
28 years of financial industry experience
Steve Cain
Portfolio Manager
32 years of financial industry experience
Insights
Alternatives – mainstream diversification for 2024
David Elms argues why a changing market outlook in 2024 should prompt investors to consider a greater allocation to alternatives.
Alternatives outlook: Seeking catalysts for change
How much of a role can a liquid alternatives strategy play in a world of heightened geopolitical uncertainty, inflationary pressures, and dramatic changes in monetary policy?