Morningstar Fund Report  | 05/04/2025Print

Janus Henderson Absolute Return Fund A Acc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Janus Henderson Absolute Return Fund A Acc
Fund3.5-1.46.87.01.3
+/-Cat-----
+/-B’mrk-14.8-1.8-1.1-2.5-3.2
 
Category: Long/Short Equity - UK
Category Benchmark: FTSE AllSh TR GBP
Key Stats
NAV
04/04/2025		 GBX 190.80
Day Change -0.31%
Morningstar Category™ Long/Short Equity - UK
IA (formerly IMA) Sector Targeted Absolute Return
ISIN GB00B5KKCS68
Fund Size (Mil)
28/02/2025		 GBP 960.23
Share Class Size (Mil)
03/04/2025		 GBP 30.09
Max Initial Charge 5.00%
Ongoing Charge
11/02/2025		  1.68%
Morningstar Research
Analyst Report20/06/2024
Francesco Paganelli, Senior Analyst
Morningstar, Inc

Janus Henderson Absolute Return’s experienced and risk-conscious management team continue to support a Morningstar Analyst Rating of Bronze for its cheaper share classes. Its pricier shares earn a Neutral rating. Seasoned managers Ben Wallace and...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent23
Process24
Performance
Price
Investment Objective: Janus Henderson Absolute Return Fund A Acc
The Fund aims to provide a positive (absolute) return, regardless of market conditions, over any 12 month period. A positive return is not guaranteed over this or any other time period, and particularly over the shorter term the Fund may experience periods of negative returns. The Fund invests in shares and makes extensive use of derivatives (complex financial instruments) to take both ‘long’ and ‘short’ positions in companies the investment manager believes will either rise in value (long positions) or fall in value (short positions) meaning that the Fund may benefit from either scenario.
Returns
Trailing Returns (GBP)04/04/2025
YTD1.01
3 Years Annualised5.15
5 Years Annualised3.88
10 Years Annualised2.70
12 Month Yield 2.32
Management
Manager Name
Start Date
Benjamin Wallace
29/04/2009
Luke Newman
29/04/2009
Inception Date
29/04/2009

Category Benchmark
Fund BenchmarkMorningstar Benchmark
UK Base Rate PRFTSE AllSh TR GBP
Portfolio Profile for  Janus Henderson Absolute Return Fund A Acc28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock48.0833.0215.06
Bond1.460.001.46
Property0.000.000.00
Cash128.7946.8381.95
Other1.540.011.53
Top 5 Regions%
United Kingdom79.26
United States13.03
Eurozone5.11
Europe - ex Euro1.77
Canada0.83
Top 5 Sectors%
No Data Available
Top 5 HoldingsSector%
RELX PLCIndustrialsIndustrials8.77
CFD on Unilever PLC3.30
Inactive Credit Agricole Corpora... 2.58
LGIM Sterling Liquidity 42.20
CFD on Serco Group PLC1.59
Increase Decrease New since last portfolio
Janus Henderson Absolute Return Fund A Acc
Growth Of 1000 (GBP) 31/03/2025
Fund:  Janus Henderson Absolute Return Fund A Acc
Category:  Long/Short Equity - UK
Category Index:  FTSE AllSh TR GBP
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-3.353.932.083.52-1.436.846.961.32
+/- Category--------
+/- Category Index6.12-15.2411.90-14.81-1.77-1.08-2.50-3.18
% Rank in Category-
Trailing Returns (GBP)04/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.31   -1.28
1 Week-0.47   -1.88
1 Month-0.73   -3.35
3 Months1.01   --1.66
6 Months2.09   --0.45
YTD1.01   --2.21
1 Year5.36   --4.02
3 Years Annualised5.15   --1.52
5 Years Annualised3.88   --9.03
10 Years Annualised2.70   --3.22
 
Category: Long/Short Equity - UK
Category Index: FTSE AllSh TR GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20251.32---
20242.381.002.460.96
20231.751.251.472.20
2022-1.97-2.01-0.813.44
20211.791.330.060.30
2020-0.321.830.120.43
 
 
 
Morningstar Rating™(Relative to Category)-
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-Year--Not Rated
5-Year--Not Rated
10-Year--Not Rated
Overall--Not Rated
 
Category :  Long/Short Equity - UKClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev3.07 %
3-Yr Mean Return5.25 %
 
3-Yr Sharpe Ratio0.38
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 FTSE AllSh TR GBP  Morningstar UK SMID Cap TME NR GBP
3-Yr Beta0.210.15
3-Yr Alpha0.371.09
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 24036-
Market Capitalisation% of Equity
Giant36.04
Large20.31
Medium34.64
Small8.76
Micro0.24
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings15.590.82
Price/Book2.330.81
Price/Sales1.130.66
Price/Cash Flow12.710.88
Dividend-Yield Factor2.841.36
 
Long-Term Projected Earnings Growth9.380.94
Historical Earnings Growth1.480.59
Sales Growth10.831.67
Cash-Flow Growth5.770.88
Book-Value Growth1.560.32
 
Category: Long/Short Equity - UK
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock48.0833.0215.06
Bond1.460.001.46
Property0.000.000.00
Cash128.7946.8381.95
Other1.540.011.53
World Regions28/02/2025
 % of EquityRelative to Category
United States13.030.96
Canada0.831.41
Latin America0.00-
United Kingdom79.261.04
Eurozone5.110.84
Europe - ex Euro1.770.63
Europe - Emerging0.00-
Africa0.00-
Middle East0.000.00
Japan0.00-
Australasia0.000.00
Asia - Developed0.000.00
Asia - Emerging0.000.00
 
Category: Long/Short Equity - UK
Sector Weightings28/02/2025
 % of EquityRelative to Category
 
Category: Long/Short Equity - UK
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings161
Total Number of Bond Holdings2
Assets in Top 10 Holdings25.63
NameSectorCountry% of Assets
RELX PLC310United Kingdom8.77
CFD on Unilever PLCUnited Kingdom3.30
Inactive Credit Agricole Corporate & ... -2.58
LGIM Sterling Liquidity 4Ireland2.20
CFD on Serco Group PLCUnited Kingdom1.59
BlackRock ICS Sterling Liq Premier IncIreland1.58
Sherborne Investors (Guernsey) C LtdGuernsey1.54
Dbs Bank Ltd Td 4.76% Gbp 08-May-2025-1.40
CFD on Phoenix Group Holdings PLCUnited Kingdom1.36
Dbs Bank Ltd Td 4.57% Gbp 30-May-2025-1.33
 
Increase Decrease New since last portfolio
Category: Long/Short Equity - UK
 
Management
Name of CompanyJanus Henderson Investors
Phone8002270486
Websitewww.janushenderson.com
Address201 Bishopsgate
 London   EC2M 3AE
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date29/04/2009
Fund Advisor(s)
Janus Henderson Investors UK Limited
Fund ManagerBenjamin Wallace
Manager Start Date29/04/2009
Career Start Year1999
Education
University of Edinburgh, BCom degre
 
Biography
Ben Wallace is Portfolio Manager on the Absolute Return Equities Team at Janus Henderson Investors, a position he has held since joining Henderson in 2011 as part of the Gartmore acquisition. Prior to that, he was a senior investment manager at Gartmore. Before coming to Gartmore in 2002, he worked at Deutsche Asset Management, where he managed UK equity funds from 1997 to 2002. Ben graduated with a BCom degree (Hons) from the University of Edinburgh. He has 27 years of financial industry experience.
Fund ManagerLuke Newman
Manager Start Date29/04/2009
Career Start Year2000
Education
University of Warwick, B.S.
 
Biography
Luke Newman is Portfolio Manager on the Absolute Return Equities Team at Janus Henderson Investors, a position he has held since he joined Henderson in 2011 as part of the Gartmore acquisition. From 2009 to 2011, Luke worked at Gartmore as co-manager on a number of funds. Prior to this, he was a fund manager at Altima Partners LLP from 2008 and F&C Asset Management from 2005. He began his career in 2000 with Deutsche Asset Management running high performance retail and institutional mandates. Luke graduated with a BSc degree (Hons) in economics and politics from the University of Warwick. He has 24 years of financial industry experience.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*3.00%
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge1.68%
Purchase Details
Minimum Investments
Initial1000  GBP
Additional100  GBP
Savings100  GBP
Tax Free Savings Schemes
ISAsYes