Please ensure Javascript is enabled for purposes of website accessibility Mid Cap Value Managed Account - Janus Henderson Investors - US Advisor
{{banner.link_text}}
For Financial Professionals in the US

Mid Cap Value Managed Account

Defensive-minded specialists aiming to identify undervalued mid-cap opportunities

Overview

About This Portfolio

As defensive value specialists, we look to invest in high-quality companies with strong management teams, stable balance sheets, and durable competitive advantages that are trading at attractive valuations. We seek to achieve excess returns over full market cycles, with less risk than our benchmark and peers as measured by standard deviation, beta and down market capture.

Why Invest in This Portfolio

Attractive Reward/Risk
Our disciplined valuation process measures downside risk before upside potential and invests in securities with favorable reward/risk ratios.

High-Conviction Process
The portfolio typically holds between 60 to 90 stocks with business fundamentals considered more important than fluctuations in the wider economy.

Different Than the Benchmark
The benchmark is not used as a starting point for portfolio construction, which should lead to high active share.

Portfolio Management

Kevin Preloger
Kevin Preloger

Portfolio Manager

Industry since 1997. Joined Firm in 2002.

Justin Tugman, CFA
Justin Tugman, CFA

Portfolio Manager

Industry since 2000. Joined Firm in 2004.

Performance

RETURNS (%) (As of 09/30/2024)
Composite Pure Gross Composite Net Russell Midcap® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(10/01/1998)
Composite Pure Gross 9.52 16.96 30.66 10.20 10.03 9.38 12.54
Composite Net 8.74 14.43 26.92 7.00 6.84 6.20 9.27
Russell Midcap® Value Index 10.08 15.08 29.01 7.39 10.33 8.93 9.91

Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. All returns reflect the reinvestment of dividends and other earnings.

High absolute short-term performance is not typical and may not be achieved in the future. Such results should not be the sole basis for evaluating material facts in making an investment decision.

*Pure gross performance results do not reflect the deduction of any trading costs, fees or expenses and returns will be reduced by such advisory fee and other contractual expenses as described in the individual contract and Form ADV Part 2A. Pure gross returns are supplemental to net returns.

Net returns are calculated by subtracting the highest applicable Managed Account fee (3.00% annually, or 0.25% monthly) from the pure gross or gross composite return. The Managed Account fee includes all charges for trading costs, portfolio management, custody and other administrative fees. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size. The fees are available on request and may be found in Form ADV Part 2A.

Mid Cap Value managed account net returns prior to 1/1/05 are presented net of custodial and trading fees. After 1/1/05 net returns are net of the maximum 3.00% fee.
RETURNS (%) (As of 11/30/2024)
Composite Pure Gross Composite Net Russell Midcap® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(10/01/1998)
Composite Pure Gross 7.05 22.90 30.97 11.86 10.31 9.52 12.67
Composite Net 6.28 19.67 27.23 8.62 7.11 6.34 9.39
Russell Midcap® Value Index 8.01 22.00 31.50 8.73 10.92 9.01 10.09

Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. All returns reflect the reinvestment of dividends and other earnings.

High absolute short-term performance is not typical and may not be achieved in the future. Such results should not be the sole basis for evaluating material facts in making an investment decision.

*Pure gross performance results do not reflect the deduction of any trading costs, fees or expenses and returns will be reduced by such advisory fee and other contractual expenses as described in the individual contract and Form ADV Part 2A. Pure gross returns are supplemental to net returns.

Net returns are calculated by subtracting the highest applicable Managed Account fee (3.00% annually, or 0.25% monthly) from the pure gross or gross composite return. The Managed Account fee includes all charges for trading costs, portfolio management, custody and other administrative fees. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size. The fees are available on request and may be found in Form ADV Part 2A.

Mid Cap Value managed account net returns prior to 1/1/05 are presented net of custodial and trading fees. After 1/1/05 net returns are net of the maximum 3.00% fee.
Calendar Year Returns (%)
Composite Pure Gross Composite Net Russell Midcap® Value Index
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Composite Pure Gross 11.76 -4.96 20.57 1.30 31.00 -12.91 14.65 20.82 -1.77 9.29
Composite Net 8.52 -7.75 17.10 -1.67 27.25 -15.49 11.34 17.35 -4.64 6.12
Russell Midcap® Value Index 12.71 -12.03 28.34 4.96 27.06 -12.29 13.35 20.00 -4.78 14.75

Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. All returns reflect the reinvestment of dividends and other earnings.

*Pure gross performance results do not reflect the deduction of any trading costs, fees or expenses and returns will be reduced by such advisory fee and other contractual expenses as described in the individual contract and Form ADV Part 2A. Pure gross returns are supplemental to net returns.

Net returns are calculated by subtracting the highest applicable Managed Account fee (3.00% annually, or 0.25% monthly) from the pure gross or gross composite return. The Managed Account fee includes all charges for trading costs, portfolio management, custody and other administrative fees. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size. The fees are available on request and may be found in Form ADV Part 2A.

Returns-Based Statistics (As of 11/30/2024)

RISK / REWARD
VS. Russell Midcap Value TR		 3YR 5YR
Information Ratio 0.85 -0.12
Alpha 3.14 0.29
Tracking Error 3.39 4.66
Beta 0.91 0.86
R-squared (%) 97.58 96.78
UP/DOWN MARKET CAPTURE (%)
Russell Midcap Value TR		 3YR 5YR
Up Capture Ratio 95.38 85.84
Down Capture Ratio 87.56 89.86
STANDARD DEVIATION 3YR 5YR
Mid Cap Value Managed Account 18.19 19.27
Russell Midcap Value TR 19.77 21.90
SHARPE RATIO 3YR 5YR
Mid Cap Value Managed Account 0.42 0.40
Russell Midcap Value TR 0.23 0.38

Portfolio

Index represents the Russell Midcap® Value Index.

Top Holdings (As of 11/30/2024)
% of Fund
Entergy Corp 2.82
Casey's General Stores Inc 2.77
Expand Energy Corp 2.58
Alliant Energy Corp 2.43
Freeport-McMoRan Inc 2.16
Agree Realty Corp 2.05
Wintrust Financial Corp 2.04
Hartford Financial Services Group Inc 2.00
Fox Corp 1.97
Lamar Advertising Co 1.93
TOTAL 22.75
View full holdings
Portfolio Characteristics (As of 11/30/2024)
  REP ACCOUNT INDEX
Number of Holdings
Equity Issues		 73 711
Market Capitalization
Weighted Average		 $25.48B $26.18B
Portfolio Turnover Rate
(1-year trailing)		 36.64% -
Price/Earnings Ratio
(1-year forward)		 17.18 16.93
Price/Book Ratio
 2.53 2.51
Earnings Growth Rate
(1-year forward)		 15.75% 12.90%
Sector Allocation % of Fund % of Index % of Fund % of Index As of 11/30/2024
Equity country, regional, sector and industry weights primarily based on MSCI and GICS classifications.
Regional Allocation % of Fund % of Index % of Fund % of Index As of 11/30/2024
Developed vs Emerging Markets % of Fund % of Index % of Fund % of Index As of 11/30/2024
Market Capitalization Range of Equity Holdings % of Fund % of Index % of Fund % of Index As of 11/30/2024

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Global Perspectives: Can momentum in small caps continue?
Sep 26, 2024
Features & Outlooks

Global Perspectives: Can momentum in small caps continue?

The factors driving momentum in small-cap equities and our view on what’s ahead.

23 min read

U.S. small caps: Is the tide turning?
Aug 28, 2024
Timely & Topical

U.S. small caps: Is the tide turning?

Why we could be witnessing the early stages of a change in market leadership between U.S. small cap and large cap stocks.

6 min read

Choose region

Country

Language

What type of investor are you?