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For Individual Investors in the US

JANRX Global Select Fund

By investing in companies across the market-cap and style spectrum, we seek to deliver risk-adjusted returns that are consistently good, not sporadically great

Buy/Trade

NAV
$19.72
As of 11/04/2024

1-Day Change
-$0.02 (-0.10%)
 As of 11/04/2024

YTD Return
17.24%
As of 11/04/2024

Morningstar Rating

As of 09/30/2024

Overview

ABOUT THIS FUND

A global equity fund seeking to grow capital by investing with conviction in companies worldwide where the portfolio manager believes the market underestimates free-cash-flow growth. The Fund considers both growth and value criteria as it seeks to deliver strong, risk-adjusted returns over the long term, regardless of prevailing market conditions.

WHY INVEST IN THIS FUND

Flexible Global All-Cap Equities

The portfolio manager has the flexibility to invest in 40 to 70 companies across the globe, market cap and style spectrum where free-cash-flow growth is believed to be underestimated by the market. The portfolio manager searches for both growing companies and attractive valuations.

Differentiated Insights

The intersection of independent viewpoints and differentiated perspectives between the portfolio manager and research analysts should lead to potentially greater and more consistent excess returns over time.

Exacting Portfolio Construction

Taking a prudent approach to portfolio construction and risk management, the portfolio manager aims to drive superior risk-adjusted returns over the full market cycle through stock selection in an effort to avoid persistent biases.

Portfolio Management

Julian McManus
Julian McManus

Portfolio Manager

Industry since 1994. Joined Firm in 2004.

Christopher O'Malley, CFA
Christopher O'Malley, CFA

Portfolio Manager | Research Analyst

Industry since 1998. Joined Firm in 2017.

Performance

RETURNS (%) (As of 09/30/2024)
Global Select Fund - D Shares MSCI All Country World IndexSM
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(06/30/2000)
Global Select Fund - D Shares 2.60 19.86 33.23 9.48 13.59 10.02 5.48
MSCI All Country World IndexSM 6.61 18.66 31.76 8.09 12.18 9.38 5.95
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.
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.
Performance for Class D Shares that includes periods prior to 2/16/10 reflects the performance of one or more share classes of the Fund or a predecessor 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 09/30/2024)
Global Select Fund - D Shares MSCI All Country World IndexSM
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(06/30/2000)
Global Select Fund - D Shares 2.60 19.86 33.23 9.48 13.59 10.02 5.48
MSCI All Country World IndexSM 6.61 18.66 31.76 8.09 12.18 9.38 5.95
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.
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.
Performance for Class D Shares that includes periods prior to 2/16/10 reflects the performance of one or more share classes of the Fund or a predecessor 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 (%)
Global Select Fund - D Shares MSCI All Country World IndexSM
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Global Select Fund - D Shares 17.34 -9.96 16.18 16.08 27.41 -9.80 31.08 3.37 -4.56 6.95
MSCI All Country World IndexSM 22.20 -18.36 18.54 16.25 26.60 -9.41 23.97 7.86 -2.36 4.16
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 D Shares that includes periods prior to 2/16/10 reflects the performance of one or more share classes of the Fund or a predecessor 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-Based Statistics (As of 09/30/2024 Class D Shares)

RISK / REWARD
VS. MSCI AC World NR Index		 3YR 5YR
Information Ratio 0.22 0.22
Alpha 1.48 1.00
Tracking Error 5.93 5.77
Beta 1.00 1.06
R-squared (%) 88.49 91.67
UP/DOWN MARKET CAPTURE (%)
MSCI AC World NR Index		 3YR 5YR
Up Capture Ratio 105.94 109.03
Down Capture Ratio 100.16 103.45
STANDARD DEVIATION 3YR 5YR
Global Select Fund 17.58 19.22
MSCI AC World NR Index 16.57 17.37
SHARPE RATIO 3YR 5YR
Global Select Fund 0.32 0.57
MSCI AC World NR Index 0.26 0.55
Annual Fees & Expenses (As of the most recent prospectus)
CLASS D SHARES
Management Fees 0.64%
Other Expenses 0.19%
Total Gross Expenses 0.83%
Waivers 0.00%
Total Net Expenses 0.83%
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 MSCI All Country World Index℠.

Top Holdings (As of 09/30/2024)
% of Fund
Taiwan Semiconductor Manufacturing Co Ltd 6.33
Microsoft Corp 5.00
Vistra Corp 4.70
Liberty Media Corp-Liberty Formula One 3.55
Teck Resources Ltd 3.51
BAE Systems PLC 3.48
Dai-ichi Life Holdings Inc 2.74
Amazon.com Inc 2.67
Marathon Petroleum Corp 2.62
Arthur J Gallagher & Co 2.53
TOTAL 37.13
View full holdings
Portfolio Characteristics (As of 09/30/2024)
  FUND INDEX
Number of Holdings
Equity Issues		 59 2687
Market Capitalization
Weighted Average		 $398.81B $614.28B
Portfolio Turnover Rate
(1-year trailing)		 34.60% -
Price/Earnings Ratio
(1-year forward)		 18.14 17.91
Price/Book Ratio
 3.01 3.16
Earnings Growth Rate
(1-year forward)		 15.73% 16.31%
Sector Allocation % of Fund % of Index % of Fund % of Index As of 09/30/2024
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 September 30, 2024
Developed vs Emerging Markets % of Fund % of Index % of Fund % of Index As of September 30, 2024
Market Capitalization Range of Equity Holdings % of Fund % of Index % of Fund % of Index As of 09/30/2024

Documents

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