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For professional investors in Mexico

Global Adaptive Multi-Asset Fund

Asset allocation fund informed by views on extreme market movements

ISIN
IE00BZ775C54

NAV
USD 16.97
As of 20/11/2024

1-Day Change
USD -0.02 (-0.12%)
 As of 20/11/2024

Morningstar Rating

As of 31/10/2024

Overview

INVESTMENT OBJECTIVE

The Fund aims to provide a return, from a combination of capital growth and income over the long term.
Performance target: To outperform the 60% MSCI ACWI + 40% Bloomberg Global Aggregate Bond Index by 1% per annum, before the deduction of charges, over any 5 year period.

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The Fund invests in a globally diverse portfolio of company shares (also known as equities) and equity-related investments, bonds of any type, commodities (such as gold, oil and agricultural produce), cash and money market instruments.
The Fund may gain its exposure to these assets either directly, via other funds (collective investment schemes, including exchange traded funds) and investment trusts/companies, or by using derivatives (complex financial instruments). The Sub-Investment Adviser has flexibility to shift allocations between different asset classes and may invest up to 100% of its assets in any of these classes, depending on prevailing market conditions. The Fund has no specific geographical or industrial focus and may invest in developing countries.
The Sub-Investment Adviser may use derivatives (complex financial instruments), including total return swaps, with the aim of making investment gains in line with the Fund's objective, to reduce risk or to manage the Fund more efficiently.
The Fund is actively managed with reference to the 60% MSCI ACWI + 40% Bloomberg Global Aggregate Bond Index, which is broadly representative of the assets in which it may invest, as this forms the basis of the Fund's performance target. The Sub-Investment Adviser has a high degree of freedom to choose individual investments for the Fund.

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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

  • The strategy seeks absolute return by allocating across global equity and global fixed income investments
  • Using proprietary technology to analyze option pricing, the fund will adjust its asset allocations based on the future probability of extreme (‘tail event’) market moves, both to the upside and downside
  • Attempts to reduce the risk of significant loss while aiming to participate in the upside growth of capital markets
Past performance does not predict future returns. 
 

Portfolio Management

Ashwin Alankar, Ph.D.
Ashwin Alankar, Ph.D.

Head of Global Asset Allocation | Portfolio Manager

Industry since 2001. 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
A2 USD (Net) 60% MSCI ACWI NR / 40% Bloomberg Global Agg USD Flexible Allocation - OE
  
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
05/04/2016
A2 USD (Net) -2.49 6.79 19.26 4.26 8.36 - 6.27
60% MSCI ACWI NR / 40% Bloomberg Global Agg -2.69 9.44 23.06 1.71 6.05 - 6.81
USD Flexible Allocation - OE -1.61 6.53 16.59 0.59 3.66 - 4.02
 
  Annualised
3YR 5YR 10YR Since Inception
05/04/2016
A2 USD (Gross) - 9.99 - 7.98
60% MSCI ACWI NR / 40% Bloomberg Global Agg + 1.00% - 7.11 - 7.88
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.
From 18th February 2020, the Fund’s benchmark changed. Past performance before 18th February 2020 is shown for the fund’s previous benchmark.
Performance/performance target related data will display only when relevant to the fund/share class inception date and the annualised target time period.
From 31st July 2024, the Fund's investment policy changed. Past performance shown before 31st July 2024 is shown for the fund’s previous investment policy.
© 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.
The ongoing charges includes fees payable to Distributors. Where the ongoing charges exceed the target outperformance relative to the benchmark the return is likely to be below the benchmark return, even when the Fund’s outperformance target (before the deduction of charges) has been achieved.
Calendar Year Returns (%)
As of 30/09/2024
A2 USD (Net) 60% MSCI ACWI NR / 40% Bloomberg Global Agg USD Flexible Allocation - OE
YTD 2023 2022 2021 2020 2019 2018 2017 Performance Inception
05/04/2016
A2 USD (Net) 9.51 15.87 -8.53 10.14 16.27 16.43 -7.08 3.97 3.30
60% MSCI ACWI NR / 40% Bloomberg Global Agg 12.46 15.43 -17.33 8.78 14.05 18.55 -6.00 17.09 4.08
USD Flexible Allocation - OE 8.27 10.28 -13.66 7.82 6.34 13.59 -7.91 12.08 2.86
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.
From 18th February 2020, the Fund’s benchmark changed. Past performance before 18th February 2020 is shown for the fund’s previous benchmark.
Performance/performance target related data will display only when relevant to the fund/share class inception date and the annualised target time period.
From 31st July 2024, the Fund's investment policy changed. Past performance shown before 31st July 2024 is shown for the fund’s previous investment policy.
© 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.
The ongoing charges includes fees payable to Distributors. Where the ongoing charges exceed the target outperformance relative to the benchmark the return is likely to be below the benchmark return, even when the Fund’s outperformance target (before the deduction of charges) has been achieved.
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 0.70%
Ongoing Charge
(As of 31/12/2023) 		1.45%
The ongoing charge figure is an estimate of the expected future charges.
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.

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.
  • An issuer of a bond (or money market instrument) may become unable or unwilling to pay interest or repay capital to the Fund. If this happens or the market perceives this may happen, the value of the bond will fall.
  • When interest rates rise (or fall), the prices of different securities will be affected differently. In particular, bond values generally fall when interest rates rise (or are expected to rise). This risk is typically greater the longer the maturity of a bond investment.
  • Emerging markets expose the Fund to higher volatility and greater risk of loss than developed markets; they are susceptible to adverse political and economic events, and may be less well regulated with less robust custody and settlement procedures.
  • 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 to help achieve its investment objective. This can result in leverage (higher levels of debt), which can magnify an investment outcome. Gains or losses to the Fund may therefore be greater than the cost of the derivative. Derivatives also introduce 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
  • Janus Henderson Investors Europe S.A. may decide to terminate the marketing arrangements of this Collective Investment Scheme in accordance with the appropriate regulation.
  • 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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