Please ensure Javascript is enabled for purposes of website accessibility Global Short Duration Income Opportunities Fund - Janus Henderson Investors - US Offshore
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To US Financial Professionals servicing non-US persons

Global Short Duration Income Opportunities Fund

An absolute return strategy that takes advantage of flexibility to express high-conviction active views through a macro lens

ISIN
IE00BLWF5D72

NAV
USD 12.33
As of 12/20/2024

1-Day Change
USD 0.01 (0.08%)
 As of 12/20/2024

Morningstar Rating

As of 11/30/2024

Overview

INVESTMENT OBJECTIVE

The Fund aims to provide a return, from a combination of income and capital growth, while seeking to limit losses to capital (although not guaranteed). Performance target: To outperform the FTSE 3-Month US Treasury Bill Index by at least 3% per annum, before the deduction of charges, over any 5 year period.

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The Fund invests at least 80% of its assets in a global portfolio of short duration bonds of any quality, including high yield/non-investment grade and unrated bonds, issued by companies or governments, asset-backed and mortgage backed securities. The overall duration of the Fund is typically less than three years and may at times also be negative. The Fund may also invest in other assets including cash and money market instruments. In certain market conditions, the Fund may invest more than 35% of its assets in government bonds issued by any one body. The Sub-Investment Adviser makes extensive use of 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 FTSE 3-Month US Treasury Bill Index 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 ability to invest broadly across global fixed income markets while not being constrained by benchmark-specific guidelines
  • Seeks to maximise total returns regardless of market conditions
  • Historically, has provided diversification from traditional and non-traditional asset classes
Past performance does not predict future returns. 
 

Portfolio Management

Daniel Siluk
Daniel Siluk

Head of Global Short Duration & Liquidity | Portfolio Manager

Industry since 2004. Joined Firm in 2015.

Dylan Bourke, CFA
Dylan Bourke, CFA

Portfolio Manager

Industry since 2009. Joined Firm in 2015.

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 11/30/2024
I2 USD (Net) FTSE 3-Month US Treasury Bill EAA Fund Global Flexible Bond
  
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
09/29/2014
I2 USD (Net) 0.57 5.76 7.05 3.67 2.71 2.00 2.06
FTSE 3-Month US Treasury Bill 0.40 5.03 5.53 3.92 2.49 1.75 1.72
EAA Fund Global Flexible Bond -0.32 1.99 5.51 -0.54 0.70 0.84 0.81
 
  Annualised
3YR 5YR 10YR Since Inception
09/29/2014
I2 USD (Gross) - 3.43 2.84 2.90
FTSE 3-Month US Treasury Bill + 3.00% - 5.56 4.80 4.77
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.
© 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.
Calendar Year Returns (%)
I2 USD (Net) FTSE 3-Month US Treasury Bill EAA Fund Global Flexible Bond
YTD 2023 2022 2021 2020 2019 2018 2017 2016 2015 Performance Inception
09/29/2014
I2 USD (Net) 4.99 6.89 -1.72 -0.27 3.06 3.66 -2.62 2.99 4.75 -1.49 0.40
FTSE 3-Month US Treasury Bill 4.17 5.26 1.50 0.05 0.58 2.25 1.86 0.84 0.27 0.03 0.00
EAA Fund Global Flexible Bond 4.92 8.11 -11.69 -3.12 7.98 6.10 -5.98 8.93 3.63 -4.18 -1.27
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.
© 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.
Please note the performance target is to be achieved over a specific annualised time period. Refer to the performance target wording within the objective.

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 costs8,120 USD8,200 USD
Average return each year-18.76%-3.88%
UnfavourableWhat you might get back after costs9,440 USD9,760 USD
Average return each year-5.57%-0.48%
ModerateWhat you might get back after costs9,890 USD10,420 USD
Average return each year-1.09%0.83%
FavourableWhat you might get back after costs10,410 USD11,010 USD
Average return each year4.07%1.94%
This chart shows the fund’s performance as the percentage loss or gain per year over the last 10 years against its benchmark. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

As of 09/30/2024
I2 USD (Net) FTSE 3-Month US Treasury Bill EAA Fund Global Flexible Bond
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.
Past performance does not predict future returns. The value of an investment may go down as well as up and you may lose the amount originally invested. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past.
© 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.
Annual Fees & Expenses (As of the most recent prospectus)
Initial Charge 2.00%
Annual Charge 0.65%
Ongoing Charge
(As of 12/31/2023) 		0.70%
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.

Portfolio

Top Holdings (As of 11/30/2024)
% of Fund
Janus Henderson Asset-Backed Securities Fund Z Acc USD Hedged 2.30
National Australia Bank Ltd, 6.45%, 11/18/31 1.99
Pay NZD BANK BILL 3MO Receive Fixed 3.56%, 3.56%, 10/21/26 1.96
Pay NZD BANK BILL 3MO Receive Fixed 5.12%, 5.12%, 04/22/26 1.91
Vistra Operations Co LLC, 5.12%, 05/13/25 1.71
Volkswagen Financial Services Australia Pty Ltd, 5.30%, 02/09/27 1.71
Australia & New Zealand Banking Group Ltd, 6.27%, 02/26/31 1.62
Liberty Financial Pty Ltd, 7.52%, 04/05/27 1.55
Westpac Banking Corp, 6.30%, 04/03/34 1.45
Vicinity Centres Trust, 4.00%, 04/26/27 1.44
TOTAL 17.64
References made to individual securities do not constitute a recommendation to buy, sell or hold any security, investment strategy or market sector, and should not be assumed to be profitable. Janus Henderson Investors, its affiliated advisor, or its employees, may have a position in the securities mentioned.

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.
  • 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.
  • The Fund invests in high yield (non-investment grade) bonds and while these generally offer higher rates of interest than investment grade bonds, they are more speculative and more sensitive to adverse changes in market conditions.
  • Some bonds (callable bonds) allow their issuers the right to repay capital early or to extend the maturity. Issuers may exercise these rights when favourable to them and as a result the value of the Fund may be impacted.
  • 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.
  • In addition to income, this share class may distribute realised and unrealised capital gains and original capital invested. Fees, charges and expenses are also deducted from capital. Both factors may result in capital erosion and reduced potential for capital growth. Investors should also note that distributions of this nature may be treated (and taxable) as income depending on local tax legislation.
  • The Fund invests in Asset-Backed Securities (ABS) and other forms of securitised investments, which may be subject to greater credit / default, liquidity, interest rate and prepayment and extension risks, compared to other investments such as government or corporate issued bonds and this may negatively impact the realised return on investment in the securities.
  • 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.
  • The Legal Entity Identifier for this product is 549300GP6YZN7B61FK42.

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