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JERIX Global Real Estate Fund

Our team of real estate experts combines a boots-on-the-ground presence with in-depth market knowledge, seeking to create a truly active, high-conviction portfolio.

View Institutional Strategy

NAV
$12.13
As of 22/11/2024

1-Day Change
$0.09 (0.75%)
 As of 22/11/2024

YTD Return
5.06%
As of 22/11/2024

Morningstar Rating

As of 31/10/2024

Morningstar Medalist Rating ™

Silver Morningstar Analyst Rating
As of 30/10/2024

Overview

Quarterly Update

Watch the investment team recap this quarter.

(Note: Filmed in October 2024).

ABOUT THIS FUND

A global equity fund that seeks to provide investors total returns – both capital appreciation and current income – associated with global real estate growth and development. The Fund seeks to own a portfolio of the most compelling real estate equities listed on regulated exchanges throughout the world. These companies will derive the main part of their revenue from the ownership, management and/or development of real estate. Our strategy is long only with the objective of producing strong relative performance while providing genuine exposure to global real estate fundamentals and managing risk by being benchmark aware.

WHY INVEST IN THIS FUND

Multi-Local Presence
Fund managers and analysts based in Europe, Asia and North America provide valuable local expertise in stock selection. Regional investment processes are tailored to each market.

Risk-Aware, Active Management
The portfolio managers take an active approach, emphasizing qualitative considerations, in-depth company research and quantitative projections.

High Conviction, All-Cap Portfolio
A “best ideas” stock portfolio selected from a wide universe, seeking to add value across the market-cap spectrum.

 

Global real estate investing with conviction

Decomposition of sources of active risk vs FTSE EPRA NAREIT Global Index

Source: Janus Henderson Investors, Barra, as of September 30, 2024.
Note: Based on a representative account.
©2024 MSCI Barra. All rights reserved. Active risk: a type of risk that a portfolio creates as it attempts to beat the returns of the benchmark against which it is compared. In this analysis we are using tracking error as a metric for active risk. Additional factors have been excluded from analysis. Exposures are subject to change without notice. Data is based on a representative account of the strategy and may vary from other accounts in the strategy, due to asset size and other factors. The representative account is believed to most closely reflect the current portfolio management style.

RATINGS AND AWARDS

Portfolio Management

Guy Barnard, CFA
Guy Barnard, CFA

Co-Head of Global Property Equities | Portfolio Manager

Industry since 2003. Joined Firm in 2006.

Tim Gibson
Tim Gibson

Co-Head of Global Property Equities | Portfolio Manager

Industry since 2001. Joined Firm in 2011.

Greg Kuhl, CFA
Greg Kuhl, CFA

Portfolio Manager

Industry since 2005. Joined Firm in 2015.

Performance

RETURNS (%) (As of 30/09/2024)
Global Real Estate Fund - I Shares FTSE EPRA Nareit Global Index FTSE EPRA Nareit Global Net Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/1970)
Global Real Estate Fund - I Shares 15.80 11.55 26.17 -0.94 3.08 5.89 5.43
FTSE EPRA Nareit Global Index 16.29 12.42 29.06 0.98 1.76 4.67 3.38
FTSE EPRA Nareit Global Net Index 16.03 11.59 27.80 0.04 0.84 3.76
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.
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 I Shares that includes periods prior to 7/6/09 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 31/10/2024)
Global Real Estate Fund - I Shares FTSE EPRA Nareit Global Index FTSE EPRA Nareit Global Net Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/1970)
Global Real Estate Fund - I Shares 2.64 5.49 25.39 -4.34 1.11 4.86 5.05
FTSE EPRA Nareit Global Index 4.40 6.73 28.70 -2.44 0.15 3.50 3.04
FTSE EPRA Nareit Global Net Index 4.15 5.87 27.41 -3.36 -0.75 2.60
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 I Shares that includes periods prior to 7/6/09 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 Real Estate Fund - I Shares FTSE EPRA Nareit Global Index
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Global Real Estate Fund - I Shares 7.59 -25.23 22.40 1.39 30.88 -3.13 17.72 3.50 -1.94 14.23
FTSE EPRA Nareit Global Index 9.78 -23.58 23.04 -9.16 23.58 -5.55 15.01 4.62 -0.41 14.73
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 7/6/09 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.

Morningstar Percentile

 (As of 24/11/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 73 78 34 18 3
Global Real Estate | Rank/Count 137/187 144/180 65/173 35/150 5/102
 (As of 24/11/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 73 77 40 11 3
Global Real Estate | Rank / Count 130/179 137/176 76/169 26/147 5/100

Returns-Based Statistics (As of 31/10/2024 Class I Shares)

RISK / REWARD
VS. FTSE EPRA/NAREIT Global Net Index		 3YR 5YR
Information Ratio -0.39 0.40
Alpha -0.84 1.54
Tracking Error 2.59 4.72
Beta 1.02 0.93
R-squared (%) 98.36 95.34
UP/DOWN MARKET CAPTURE (%)
FTSE EPRA/NAREIT Global Net Index		 3YR 5YR
Up Capture Ratio 100.04 100.18
Down Capture Ratio 102.41 95.23
STANDARD DEVIATION 3YR 5YR
Global Real Estate Fund 19.96 19.41
FTSE EPRA/NAREIT Global Net Index 19.47 20.47
SHARPE RATIO 3YR 5YR
Global Real Estate Fund -0.39 -0.06
FTSE EPRA/NAREIT Global Net Index -0.35 -0.15
Annual Fees & Expenses (As of the most recent prospectus)
CLASS I SHARES
Management Fees 0.77%
Other Expenses 0.20%
Total Gross Expenses 0.97%
Waivers 0.00%
Total Net Expenses 0.97%
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 FTSE EPRA Nareit Global Net Index.

Top Holdings (As of 31/10/2024)
% of Fund
Equinix Inc 6.58
Welltower Inc 5.29
Realty Income Corp 5.07
Public Storage 4.81
Prologis Inc 3.28
AvalonBay Communities Inc 3.15
Goodman Group 2.91
American Homes 4 Rent 2.58
EastGroup Properties Inc 2.51
UDR Inc 2.48
TOTAL 38.66
View full holdings
Sector Allocation % of Fund % of Index % of Fund % of Index As of 31/10/2024
Regional Allocation % of Fund % of Index % of Fund % of Index As of 10/31/2024
Developed vs Emerging Markets % of Fund % of Index % of Fund % of Index As of 10/31/2024
Market Capitalization Range of Equity Holdings % of Fund % of Index % of Fund % of Index As of 31/10/2024

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
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