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For professional investors in Brazil

Horizon Global Technology Leaders Fund

Aims to generate long-term capital growth through investment in a globally diversified portfolio of technology-related companies.

ISIN
LU0196035553

NAV
USD 254.52
As of 22/11/2024

1-Day Change
USD 2.07 (0.82%)
 As of 22/11/2024

Morningstar Rating

As of 31/10/2024

Overview

Quarterly Update

Watch the investment team recap this quarter.

(Note: As at October 2024).

INVESTMENT OBJECTIVE

The Fund aims to provide capital growth over the long term.
Performance target: To outperform the MSCI ACWI Information Technology Index + MSCI ACWI Communication Services Index, after the deduction of charges, over any 5 year period.

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The Fund invests at least 90% of its assets in a portfolio of shares (equities) and equity-related securities of companies, of any size, which are technology-related or derive profits from technology, in any country. The portfolio may be concentrated in terms of its number of holdings and/or the size of its largest holdings.
The Fund may also invest in other assets including investment grade government bonds, cash and money market instruments.
The Investment Manager may use derivatives (complex financial instruments) to reduce risk or to manage the Fund more efficiently.
The Fund is actively managed with reference to the MSCI ACWI Information Technology Index + MSCI ACWI Communication Services Index (together the “Index”), which is broadly representative of the companies in which it may invest, as this forms the basis of the Fund's performance target and the level above which performance fees may be charged (if applicable). The Investment Manager has discretion to choose investments for the Fund with weightings that may be different to the index or not in the Index, which may result in material differences in performance between the Fund and the Index.

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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 a Marketing Communication and does not qualify as an investment recommendation.

ABOUT THIS FUND

  • Seeks to uncover undervalued growth companies where the scale or persistence of earnings growth is underappreciated by the market.
  • Actively managed by a highly experienced team in the UK, with a focus on long-term trends that are shaping the future of technology.
Past performance does not predict future returns. 
 

Portfolio Management

Graeme Clark
Graeme Clark

Portfolio Manager

Industry since 1994. Joined Firm in 2013.

Alison Porter
Alison Porter

Portfolio Manager

Industry since 1995. Joined Firm in 2014.

Richard Clode, CFA
Richard Clode, CFA

Portfolio Manager

Industry since 2003. Joined Firm in 2014.

Performance

Past performance does not predict future returns. All performance data includes both income and capital gains or losses and reflects the deduction of any ongoing charges or other fund expenses.
Cumulative & Annualised Performance (%)
As of 31/10/2024
I2 USD (Net) MSCI ACWI/Information Tech & Comm Services NR Sector Equity Technology - OE
 
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
01/07/2004
I2 USD (Net) 0.15 26.92 51.50 8.81 18.33 16.84 12.85
MSCI ACWI/Information Tech & Comm Services NR -0.71 25.15 46.48 8.88 18.08 16.75 12.10
Sector Equity Technology - OE -0.38 14.68 39.11 -0.29 12.34 12.28 9.38
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Performance fees are charged separately as a way of rewarding the investment manager for superior returns or for outperforming specified targets. A Performance Fee is accrued where the NAV outperforms the relevant Hurdle NAV (subject to a High Water Mark).
Performance/performance target related data will display only when relevant to the fund/share class inception date and the annualised target time period.
© Morningstar 2024. All rights reserved. NAV-NAV, gross income reinvested where applicable.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
Calendar Year Returns (%)
As of 30/09/2024
I2 USD (Net) MSCI ACWI/Information Tech & Comm Services NR Sector Equity Technology - OE
YTD 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
I2 USD (Net) 26.73 51.95 -34.69 18.88 42.20 40.78 -6.12 45.05 7.08 4.95 11.55
MSCI ACWI/Information Tech & Comm Services NR 26.05 47.67 -32.28 22.38 38.25 38.53 -5.20 41.77 12.20 3.53 15.73
Sector Equity Technology - OE 15.11 37.26 -36.40 12.13 47.75 35.10 -9.50 37.77 7.51 3.23 8.12
Calendar Year Returns (%)
Year I2 USD (Net) Index
2023 51.95 47.67
2022 -34.69 -32.28
2021 18.88 22.38
2020 42.20 38.25
2019 40.78 38.53
2018 -6.12 -5.20
2017 45.05 41.77
2016 7.08 12.20
2015 4.95 3.53
2014 11.55 15.73
2013 26.74 27.06
2012 14.43 15.79
2011 -3.18 -4.10
2010 13.88 11.69
2009 61.45 58.68
2008 -41.35 -44.45
2007 22.03 13.89
2006 11.42 9.87
2005 6.13 7.05
2004 from 01/07/2004 4.60 3.48
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Performance fees are charged separately as a way of rewarding the investment manager for superior returns or for outperforming specified targets. A Performance Fee is accrued where the NAV outperforms the relevant Hurdle NAV (subject to a High Water Mark).
Performance/performance target related data will display only when relevant to the fund/share class inception date and the annualised target time period.
© Morningstar 2024. All rights reserved. NAV-NAV, gross income reinvested where applicable.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
Please note the performance target is to be achieved over a specific annualised time period. Refer to the performance target wording within the objective.
Fee Information
Initial Charge 5.00%
Annual Charge 1.00%
Ongoing Charge
(As of 30/06/2023) 		1.00%
Performance Fee 10% of the 'Relevant Amount'
Hurdle Rate MSCI ACWI Information Technology Index + MSCI ACWI Communication Services Index
The ongoing charge is calculated using the PRIIPs methodology. The PRIIPs methodology differs to the UCITS ongoing charge methodology, as the PRIIPS methodology captures additional recurring charges, including but not limited to: a. Interest paid on borrowing (e.g. bank interest) b. Any fees incurred in relation to stock-lending activity (i.e. the fee paid to the lending agent) c. Any costs associated with holding closed-ended vehicles.
For more information about charges, please see our fund charges page or the “charges” section of the fund’s prospectus.

Portfolio

Top Holdings (As of 31/10/2024)
% of Fund
Microsoft 8.32
NVIDIA 7.98
Alphabet 7.73
Meta Platforms 5.90
Taiwan Semiconductor Manufacturing 5.28
Apple 4.30
Amazon.com 4.28
Broadcom 3.91
Marvell Technology 3.43
Advanced Micro Devices 3.38
References made to individual securities do not constitute a recommendation to buy, sell or hold any security, investment strategy or market sector, and should not be assumed to be profitable. Janus Henderson Investors, its affiliated advisor, or its employees, may have a position in the securities mentioned.

Documents

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  • 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 does not predict future returns.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • Shares/Units 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.
  • 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.
  • The Fund is focused towards particular industries or investment themes and may be heavily impacted by factors such as changes in government regulation, increased price competition, technological advancements and other adverse events.
  • This Fund may have a particularly concentrated portfolio relative to its investment universe or other funds in its sector. An adverse event impacting even a small number of holdings could create significant volatility or losses for the Fund.
  • The Fund may use derivatives with the aim of reducing risk or managing the portfolio more efficiently. However this introduces other risks, in particular, that a derivative counterparty may not meet its contractual obligations.
  • If the Fund holds assets in currencies other than the base currency of the Fund, or you invest in a share/unit class of a different currency to the Fund (unless hedged, i.e. mitigated by taking an offsetting position in a related security), the value of your investment may be impacted by changes in exchange rates.
  • When the Fund, or a share/unit class, seeks to mitigate exchange rate movements of a currency relative to the base currency (hedge), the hedging strategy itself may positively or negatively impact the value of the Fund due to differences in short-term interest rates between the currencies.
  • Securities within the Fund could become hard to value or to sell at a desired time and price, especially in extreme market conditions when asset prices may be falling, increasing the risk of investment losses.
  • The Fund could lose money if a counterparty with which the Fund trades becomes unwilling or unable to meet its obligations, or as a result of failure or delay in operational processes or the failure of a third party provider.
  • 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.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved.
  • Summary of Investor rights
  • Information on compliance with EU Sustainability related disclosures can be found here.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report. Please refer to the prospectus of the UCITS and to the KID before making any final investment decisions.

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