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For investors in Hong Kong

Horizon Biotechnology Fund

A fund investing in innovative companies addressing high unmet medical needs or improving the standard of care in the fast-growing biotechnology sector.

ISIN
LU1897414303

NAV
USD 25.26
As of 2025/02/21

1-Day Change
USD 0.28 (1.12%)
 As of 2025/02/21

Morningstar Rating

As of 2025/01/31

Key investment risks:

  • The Fund's investments in equities are subject to equity securities risk due to fluctuation of securities values.
  • Investments in the Fund involve general investment, currency, liquidity, hedging, market, economic, political, regulatory, taxation, securities lending related, reverse repurchase transactions related, financial, interest rate and small/

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  • mid-capitalisation companies related risks. In extreme market conditions, you may lose your entire investment.
  • The Fund may invest in financial derivatives instruments (up to 10% of NAV) with the aim of making investment gains, reduce risk and to manage the Fund more efficiently. This may involve counterparty, liquidity, leverage, volatility, valuation and over-the-counter transaction risks and the Fund may suffer significant losses.
  • The Fund’s investments are concentrated in biotechnology or biotechnology-related industry (may include small/ mid capitalization companies). It may be more volatile.
  • The Fund may charge performance fees. An investor may be subject to such fee even if there is a loss in investment capital.
  • Investors should not only base on this document alone to make investment decisions and should read the offering documents including the risk factors for further details.

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Overview

INVESTMENT OBJECTIVE

The Fund aims to provide capital growth over the long term.

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The Fund invests at least 80% of its assets in shares (equities) and equity-related securities of companies, which are biotechnology or biotechnology-related, in any country.

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ABOUT THIS FUND

Experienced and Specialised Investment Team: Dedicated biotechnology specialists with deep scientific backgrounds and a distinguished record of investing in biotechnology stocks. This highly specialised team is supported by the larger Janus Henderson health care team with over a century of combined health care investing experience.

Differentiated Fundamental Research: Seek to understand the science and the business to identify opportunities and mitigate the clinical and commercial risks inherent in the sector.

Disciplined Investment Process: Balanced across development stage, early commercial and profitable biotechnology companies and augmented by a differentiated Value at Risk Framework designed to mitigate the volatility associated with drug development.

TOP HOLDINGS

Top holdings can be found in the factsheet of the fund.

Portfolio Management

Andy Acker, CFA

Portfolio Manager

Industry since 1996. Joined Firm in 1999.

Daniel Lyons, Ph.D., CFA

Portfolio Manager | Research Analyst

Industry since 2000. Joined Firm in 2000.

Agustin Mohedas, Ph.D.

Portfolio Manager | Research Analyst

Industry since 2014.

Performance

Cumulative Performance (%)
As of 2025/01/31
A2 USD (Net) NASDAQ Biotechnology Total Return Sector Equity Biotechnology - OE
 
  Cumulative
  1MO 3MO 6MO YTD 1YR 3YR 5YR Since Inception
2018/12/10
A2 USD (Net) 5.50 -6.40 -5.70 5.50 7.84 63.54 108.06 153.00
NASDAQ Biotechnology Total Return 5.15 -2.36 -6.08 5.15 4.21 11.52 31.66 44.85
Sector Equity Biotechnology - OE 4.07 -3.13 -5.18 4.07 1.35 1.21 6.20 19.25
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
Calendar Year Returns (%)
As of 2024/12/31
A2 USD (Net) NASDAQ Biotechnology Total Return Sector Equity Biotechnology - OE
2024 2023 2022 2021 2020 Performance Inception
2018/12/10
A2 USD (Net) 6.06 23.28 -3.78 -5.17 61.32 -7.50
NASDAQ Biotechnology Total Return -0.57 4.59 -10.12 0.02 26.42 -6.85
Sector Equity Biotechnology - OE -4.20 5.25 -17.17 -7.68 27.50 -7.02
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.

Recommended holding period 5 Years

Example Investment: USD 10,000

Scenarios If you exit after 1 year If you exit after 5 years
MinimumThere is no minimum guaranteed return. You could lose some or all of your investment
StressWhat you might get back after costs2,840 USD1,750 USD
Average return each year-71.62%-29.40%
UnfavourableWhat you might get back after costs6,410 USD9,500 USD
Average return each year-35.86%-1.02%
ModerateWhat you might get back after costs10,590 USD17,170 USD
Average return each year5.93%11.41%
FavourableWhat you might get back after costs17,240 USD25,860 USD
Average return each year72.37%20.93%
There is currently insufficient data to provide a useful indication of past performance to investors.
Fee Information
Initial Charge 5.00%
Annual Charge 1.20%
Ongoing Charge
(As of 2023/06/30) 		1.89%
Performance Fee 20% of the 'Relevant Amount'
Hurdle Rate NASDAQ Biotechnology Total Return Index
The ongoing charge is calculated using the Packaged Retail Investment Product (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.
Please refer to the offering documents for more details on the fees and expenses.

Documents

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