Morningstar Fund Report  | 17/04/2025Print

Janus Henderson Horizon Global Property Equities Fund A3q USD

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Janus Henderson Horizon Global Property Equities Fund A3q USD
Fund25.8-17.71.01.2-3.6
+/-Cat0.00.0-3.90.3-2.1
+/-B’mrk1.6-2.8-1.9-2.3-3.5
 
Category: Property - Indirect Global
Category Benchmark: Morningstar Gbl Real Est TM...
Key Stats
NAV
16/04/2025		 USD 16.82
Day Change 0.52%
Morningstar Category™ Property - Indirect Global
ISIN LU0209137206
Fund Size (Mil)
31/03/2025		 USD 1002.62
Share Class Size (Mil)
16/04/2025		 USD 16.84
Max Initial Charge 5.00%
Ongoing Charge
06/03/2025		  1.89%
Investment Objective: Janus Henderson Horizon Global Property Equities Fund A3q USD
The Fund aims to provide capital growth over the long term.
Returns
Trailing Returns (GBP)16/04/2025
YTD-7.98
3 Years Annualised-7.76
5 Years Annualised1.92
10 Years Annualised4.05
12 Month Yield 2.84
Dividend Paying Frequency Quarterly
Management
Manager Name
Start Date
Guy Barnard
01/08/2008
Tim Gibson
01/07/2014
Click here to see others
Inception Date
03/01/2005

Category Benchmark
Fund BenchmarkMorningstar Benchmark
FTSE EPRA Nareit Developed NR USDMorningstar Gbl Real Est TME NR USD
Portfolio Profile for  Janus Henderson Horizon Global Property Equities Fund A3q USD31/03/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock98.500.0098.50
Bond0.000.24-0.24
Property0.000.000.00
Cash1.450.820.62
Other1.280.171.11
Top 5 Regions%
United States67.34
Japan9.38
Eurozone6.43
Australasia5.80
Asia - Developed5.22
Top 5 Sectors%
Real Estate100.00
Top 5 HoldingsSector%
Equinix IncReal EstateReal Estate6.05
Realty Income CorpReal EstateReal Estate4.71
Digital Realty Trust IncReal EstateReal Estate4.63
Public StorageReal EstateReal Estate4.54
Welltower IncReal EstateReal Estate3.80
Increase Decrease New since last portfolio
Janus Henderson Horizon Global Property Equities Fund A3q USD
Growth Of 1000 (GBP) 31/03/2025
Fund:  Janus Henderson Horizon Global Property Equities Fund A3q USD
Category:  Property - Indirect Global
Category Index:  Morningstar Gbl Real Est TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return1.5725.06-3.2925.76-17.751.001.21-3.56
+/- Category3.768.035.540.05-0.02-3.940.34-2.12
+/- Category Index3.918.724.381.63-2.77-1.89-2.31-3.47
% Rank in Category76136156925295
Trailing Returns (GBP)16/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.52   -0.170.47
1 Week5.80   3.752.40
1 Month-3.58   0.560.88
3 Months-8.18   -0.41-2.25
6 Months-12.61   -1.90-3.88
YTD-7.98   -1.09-2.66
1 Year-0.44   1.39-3.24
3 Years Annualised-7.76   -1.32-3.50
5 Years Annualised1.92   -0.64-0.75
10 Years Annualised4.05   1.420.89
 
Category: Property - Indirect Global
Category Index: Morningstar Gbl Real Est TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-3.56---
2024-0.52-3.428.91-3.28
2023-2.25-2.24-1.777.61
2022-1.19-11.70-3.92-1.87
20213.4011.311.747.40
2020-17.7413.360.712.97
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageBelow Average2 star
5-YearAverageAverage3 star
10-YearAbove AverageBelow Average4 star
OverallAverageBelow Average3 star
 
Category :  Property - Indirect GlobalClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev14.91 %
3-Yr Mean Return-5.35 %
 
3-Yr Sharpe Ratio-0.64
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Gbl Real Est TME NR USD  Morningstar Gbl Real Est TME NR USD
3-Yr Beta0.940.94
3-Yr Alpha-4.71-4.71
 
Investment Style Details31/03/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 17493-
Market Capitalisation% of Equity
Giant0.97
Large27.87
Medium50.62
Small20.14
Micro0.40
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings26.641.11
Price/Book1.651.12
Price/Sales5.140.87
Price/Cash Flow15.561.06
Dividend-Yield Factor3.940.91
 
Long-Term Projected Earnings Growth7.281.54
Historical Earnings Growth-5.921.74
Sales Growth5.341.25
Cash-Flow Growth1.368.83
Book-Value Growth-0.09-0.10
 
Category: Property - Indirect Global
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock98.500.0098.50
Bond0.000.24-0.24
Property0.000.000.00
Cash1.450.820.62
Other1.280.171.11
World Regions31/03/2025
 % of EquityRelative to Category
United States67.341.01
Canada1.300.76
Latin America0.000.00
United Kingdom3.520.90
Eurozone6.431.03
Europe - ex Euro1.020.33
Europe - Emerging0.000.00
Africa0.000.00
Middle East0.000.00
Japan9.381.12
Australasia5.801.21
Asia - Developed5.221.03
Asia - Emerging0.000.00
 
Category: Property - Indirect Global
Sector Weightings31/03/2025
 % of EquityRelative to Category
Real EstateReal Estate100.001.00
 
Category: Property - Indirect Global
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings55
Total Number of Bond Holdings0
Assets in Top 10 Holdings40.15
NameSectorCountry% of Assets
Equinix Inc104United States6.05
Realty Income Corp104United States4.71
Digital Realty Trust Inc104United States4.63
Public Storage104United States4.54
Welltower Inc104United States3.80
Prologis Inc104United States3.54
Goodman Group104Australia3.41
AvalonBay Communities Inc104United States3.36
Ventas Inc104United States3.16
American Homes 4 Rent Class A104United States2.96
 
Increase Decrease New since last portfolio
Category: Property - Indirect Global
 
Management
Name of CompanyJanus Henderson Investors
Phone8002270486
Websitewww.janushenderson.com
Address201 Bishopsgate
 London   EC2M 3AE
 United Kingdom
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date03/01/2005
Fund Advisor(s)
Janus Henderson Investors UK Limited
Fund ManagerGuy Barnard
Manager Start Date01/08/2008
Career Start Year2003
Education
Loughborough University, B.S.
 
Biography
Guy Barnard is Co-Head of Global Property Equities and a portfolio manager at Janus Henderson Investors, a position he has held since 2014. Guy joined Henderson in 2006 as an analyst and became a fund manager in 2008 and deputy head of Global Property Equities in 2012. Before Henderson, he worked for UBS in financial control. Guy holds a first class BSc degree (Hons) in mathematics and management from Loughborough University. He holds the Chartered Financial Analyst designation and has 21 years of financial industry experience.
Fund ManagerTim Gibson
Manager Start Date01/07/2014
Career Start Year2001
Education
St. Andrews University, M.A.
 
Biography
Tim Gibson is Co-Head of Global Property Equities and a portfolio manager at Janus Henderson Investors, a position he has held since 2014. He has been with Henderson, based in Singapore, since 2011. Prior to joining Henderson, Tim was a European fund manager at AMP Capital Brookfield, where he was responsible for portfolio construction and execution of an indirect real estate fund. Before this, he worked as an analyst for Morgan Stanley on their European real estate investment team, in both London and Amsterdam, where he provided investment recommendations on property companies in the UK and Europe. Tim holds an MA (Hons) in economics from St Andrews University, Scotland and received the Robert Trent Jones Scholarship to the University of Western Ontario, Canada. He has 23 years of financial industry experience.
Fund ManagerGreg Kuhl
Manager Start Date01/08/2020
Career Start Year2005
Education
University of Notre Dame, B.B.A.
 
Biography
Greg Kuhl is a Portfolio Manager on the Global Property Equities Team at Janus Henderson Investors. Prior to joining Henderson in 2015, Greg was vice president, global REITs at Brookfield Investment Management, where he was a senior analyst for global long-only and global long/short strategies focused on property equities across North America, Europe, and Asia. Before this, he was an analyst on the public real estate securities team at Heitman providing recommendations on property equities in North America. He began his career at Accenture as a financial services/capital markets analyst. Greg received a BBA degree in finance with a concentration in psychology from the University of Notre Dame, graduating cum laude. He holds the Chartered Financial Analyst designation and has 19 years of financial industry experience.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.20%
Ongoing Charge1.89%
Purchase Details
Minimum Investments
Initial2500  USD
Additional500  USD
Savings-
Tax Free Savings Schemes
ISAsYes