Please ensure Javascript is enabled for purposes of website accessibility Venture Fund - Janus Henderson Investors
For Financial Professionals in the US

JVTIX Venture Fund

Our in-depth fundamental research seeks resilient small-cap companies using their competitive advantages to grow over a multi-year time frame

NAV
$87.31
As of 07/19/2024

1-Day Change
-$0.38 (-0.43%)
 As of 07/19/2024

YTD Return
10.80%
As of 07/19/2024

Morningstar Rating

As of 06/30/2024

Morningstar Medalist Rating ™

Silver Morningstar Analyst Rating
As of 01/12/2024

Overview

ABOUT THIS FUND

A moderately positioned U.S. small-cap growth fund seeking to provide consistent relative returns with lower volatility than the index. Invests in small-cap companies with differentiated business models and sustainable competitive advantages that we believe are positioned to grow market share regardless of economic conditions.

WHY INVEST IN THIS FUND

Unique Business Models
Seeks small-cap companies that are differentiated from competitors – differentiated business model, innovative approach or unique products or services – that are using their competitive advantages to grow over a multi-year time frame.

Deep, Specialized Team
In-depth fundamental research supported by a broad team of analysts and a team of small-mid cap specialists, and a portfolio management team with experience identifying small-cap companies early in their life cycle.

Moderate Approach to Growth
Offers potential for capital appreciation through exposure to small and fast growing companies with a focus on resilient business models positioned to weather a variety of market environments.

PORTFOLIO MANAGEMENT

Jonathan Coleman, CFA

Jonathan Coleman, CFA

Portfolio Manager

Industry since 1994. Joined Firm in 1994.

Scott Stutzman, CFA

Scott Stutzman, CFA

Portfolio Manager | Research Analyst

Industry since 2001. Joined Firm in 2007.

Aaron Schaechterle

Aaron Schaechterle

Portfolio Manager | Research Analyst

Industry since 2006. Joined Firm in 2022.

Performance

RETURNS (%) (As of 06/30/2024)
Venture Fund - I Shares Russell 2000® Growth Index Russell 2000® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(04/30/1985)
Venture Fund - I Shares -0.08 6.97 11.16 -1.52 6.96 8.86 11.58
Russell 2000® Growth Index -2.92 4.44 9.14 -4.86 6.16 7.39 8.04
Russell 2000® Index -3.28 1.73 10.06 -2.58 6.94 7.00 9.28
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
Performance for Class I Shares that includes periods prior to 5/6/11, reflects the performance of one or more share classes of the Fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

RETURNS (%) (As of 06/30/2024)
Venture Fund - I Shares Russell 2000® Growth Index Russell 2000® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(04/30/1985)
Venture Fund - I Shares -0.08 6.97 11.16 -1.52 6.96 8.86 11.58
Russell 2000® Growth Index -2.92 4.44 9.14 -4.86 6.16 7.39 8.04
Russell 2000® Index -3.28 1.73 10.06 -2.58 6.94 7.00 9.28
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
Performance for Class I Shares that includes periods prior to 5/6/11, reflects the performance of one or more share classes of the Fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Calendar Year Returns (%)
Venture Fund - I Shares Russell 2000® Growth Index
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Venture Fund - I Shares 16.17 -24.13 7.69 31.70 30.87 -6.55 24.35 7.23 -0.72 10.40
Russell 2000® Growth Index 18.66 -26.36 2.83 34.63 28.48 -9.31 22.17 11.32 -1.38 5.60

MORNINGSTAR PERCENTILE

(As Of 06/30/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 32 31 52 39 2
Small Growth | Rank/Count 177/581 152/563 247/544 187/517 2/48
(As Of 06/30/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 32 31 52 39 2
Small Growth | Rank / Count 177/581 152/563 247/544 187/517 2/48

GROWTH OF A HYPOTHETICAL INVESTMENT

Venture Fund - I Shares Russell 2000® Growth Index Small Growth
Source: Morningstar, Inc.
This graph compares the performance of a hypothetical $1 investment in the fund, the fund’s Morningstar category average and its benchmark(s).

RETURNS-BASED STATISTICS (As of 06/30/2024 Class I Shares)

RISK / REWARD
VS. Russell 2000 Growth TR Index		 3YR 5YR
Information Ratio 0.59 0.14
Alpha 2.41 0.97
Tracking Error 5.93 5.33
Beta 0.89 0.91
R-squared (%) 93.78 95.33
UP/DOWN MARKET CAPTURE (%)
VS. Russell 2000 Growth TR Index		 3YR 5YR
Up Capture Ratio 88.75 87.88
Down Capture Ratio 86.77 89.79
STANDARD DEVIATION 3YR 5YR
Venture Fund 20.96 22.40
Russell 2000 Growth TR Index 22.80 23.97
SHARPE RATIO 3YR 5YR
Venture Fund -0.22 0.21
Russell 2000 Growth TR Index -0.34 0.16
ANNUAL FEES & EXPENSES (As of the most recent prospectus)
CLASS I SHARES
Management Fees 0.64%
Other Expenses 0.12%
Total Gross Expenses 0.76%
Waivers 0.00%
Total Net Expenses 0.76%
Net expense ratios reflect the expense waiver, if any, contractually agreed to for a one-year period commencing on January 26, 2024. This contractual waiver may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

Index represents the Russell 2000® Growth Index.

Top Holdings (As of 06/30/2024)
% of Fund
Stride Inc 2.06
SS&C Technologies Holdings Inc 1.92
Descartes Systems Group Inc 1.85
Rentokil Initial PLC (ADR) 1.75
Globus Medical Inc 1.63
Blackbaud Inc 1.63
Broadridge Financial Solutions Inc 1.61
SPX Technologies Inc 1.58
LPL Financial Holdings Inc 1.53
Glaukos Corp 1.47
TOTAL 17.03
View full holdings
Portfolio Characteristics (As of 06/30/2024)
  FUND INDEX
Number of Holdings
Equity Issues		 136 1053
Market Capitalization
Weighted Average		 $6.22B $5.35B
Portfolio Turnover Rate
(1-year trailing)		 17.82% -
Price/Earnings Ratio
(1-year forward)		 17.46 18.83
Price/Book Ratio
 3.40 3.99
Earnings Growth Rate
(1-year forward)		 17.44% 26.67%
Sector Allocation % of Fund % of Index % of Fund % of Index As of 06/30/2024
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 06/30/2024
Developed vs Emerging Markets % of Fund % of Index % of Fund % of Index As of 06/30/2024
Market Capitalization Range of Equity Holdings % of Fund % of Index % of Fund % of Index As of 06/30/2024

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