Please ensure Javascript is enabled for purposes of website accessibility European Focus Fund - Janus Henderson Investors

HFEIX European Focus Fund

Invests with high conviction in European companies, wherever the most compelling opportunities exist, regardless of style or market cap

NAV
$48.24
As of 22/07/2024

1-Day Change
$0.67 (1.41%)
 As of 22/07/2024

YTD Return
9.74%
As of 22/07/2024

Morningstar Rating

As of 30/06/2024

Overview

ABOUT THIS FUND

A regional equity fund that seeks to achieve long-term capital appreciation primarily through investment in European companies. The management team applies a high-conviction approach, with a focus on opportunities that offer material upside potential, regardless of style.

WHY INVEST IN THIS FUND

Flexible Style

We believe that the best way to make money for investors is by constructing a portfolio of high-conviction stock ideas, regardless of market cap or style constraints. The Fund seeks to invest in an unconstrained manner wherever the most compelling opportunities exist.

Bottom-Up Stock Selection

There are thousands of listed equities in Europe, many of which have little or no analyst coverage. We believe this creates pricing inefficiencies that can be exploited through bottom-up stock picking.

Dedicated European Experts

The Fund is managed by Robert Schramm-Fuchs, a member of Janus Henderson’s Pan European Equities team. The team includes large-, mid- and small-cap specialists, and conducts several hundred company meetings every year.

RATINGS AND AWARDS

2024 Lipper Awards Winner United States

PORTFOLIO MANAGEMENT

Robert Schramm-Fuchs

Robert Schramm-Fuchs

Portfolio Manager

Industry since 2005. Joined Firm in 2014.

Marc Schartz, CFA

Marc Schartz, CFA

Portfolio Manager

Industry since 2004. Joined Firm in 2016.

Performance

RETURNS (%) (As of 30/06/2024)
European Focus Fund - Class I Shares MSCI Europe IndexSM
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/1970)
European Focus Fund - Class I Shares -1.00 8.05 15.57 4.37 12.70 4.64 11.62
MSCI Europe IndexSM 0.55 5.81 11.68 3.87 7.13 4.16 5.76
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 6/5/17 reflects the performance of one or more share classes of 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 30/06/2024)
European Focus Fund - Class I Shares MSCI Europe IndexSM
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/1970)
European Focus Fund - Class I Shares -1.00 8.05 15.57 4.37 12.70 4.64 11.62
MSCI Europe IndexSM 0.55 5.81 11.68 3.87 7.13 4.16 5.76
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 6/5/17 reflects the performance of one or more share classes of 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 (%)
European Focus Fund - Class I Shares MSCI Europe IndexSM
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
European Focus Fund - Class I Shares 18.52 -15.89 19.16 26.83 31.77 -27.60 16.42 -7.04 2.98 -4.73
MSCI Europe IndexSM 19.89 -15.06 16.30 5.38 23.77 -14.86 25.51 -0.40 -2.84 -6.18

MORNINGSTAR PERCENTILE

(As Of 23/07/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 7 29 1 26 6
Europe Stock | Rank/Count 8/83 17/83 2/83 15/66 4/50
(As Of 23/07/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 7 29 1 26 6
Europe Stock | Rank / Count 8/83 17/83 2/83 15/66 4/50

GROWTH OF A HYPOTHETICAL INVESTMENT

European Focus Fund - Class I Shares MSCI Europe IndexSM Europe Stock
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 30/06/2024 Class I Shares)

RISK / REWARD
VS. MSCI Europe Net Index		 3YR 5YR
Information Ratio 0.09 0.86
Alpha 0.69 5.30
Tracking Error 5.20 6.03
Beta 1.09 0.99
R-squared (%) 94.06 90.74
UP/DOWN MARKET CAPTURE (%)
VS. MSCI Europe Net Index		 3YR 5YR
Up Capture Ratio 114.01 121.74
Down Capture Ratio 107.64 99.41
STANDARD DEVIATION 3YR 5YR
European Focus Fund 20.51 19.96
MSCI Europe Net Index 18.27 19.20
SHARPE RATIO 3YR 5YR
European Focus Fund 0.06 0.52
MSCI Europe Net Index 0.04 0.25
ANNUAL FEES & EXPENSES (As of the most recent prospectus)
CLASS I SHARES
Management Fees 1.00%
Other Expenses 0.26%
Total Gross Expenses 1.26%
Waivers -0.21%
Total Net Expenses 1.05%
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 Europe Net (USD).

Top Holdings (As of 30/06/2024)
% of Fund
Novo Nordisk A/S 6.05
ASML Holding NV 5.19
TotalEnergies SE 4.38
Novartis AG 3.75
LVMH Moet Hennessy Louis Vuitton SE 3.74
AstraZeneca PLC 3.36
Deutsche Telekom AG 3.04
UniCredit SpA 2.54
Nestle SA 2.52
RELX PLC 2.47
TOTAL 37.04
View full holdings
Portfolio Characteristics (As of 30/06/2024)
  FUND INDEX
Number of Holdings
Equity Issues		 43 418
Market Capitalization
Weighted Average		 $115.85B $99.38B
Portfolio Turnover Rate
(1-year trailing)		 175.67% -
Price/Earnings Ratio
(1-year forward)		 15.84 13.29
Price/Book Ratio
 2.82 2.04
Earnings Growth Rate
(1-year forward)		 15.65% 11.86%
Sector Allocation % of Fund % of Index % of Fund % of Index As of 30/06/2024
Equity country, regional, sector and industry weights primarily based on MSCI and GICS classifications. Fixed income country, regional, sector and industry weights primarily based on Bloomberg classifications.
Regional Allocation % 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 30/06/2024

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