Morningstar Fund Report  | 05/04/2025Print

Janus Henderson Absolute Return Fund A2 GBP

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Janus Henderson Absolute Return Fund A2 GBP
Fund3.5-1.07.06.91.7
+/-Cat-----
+/-B’mrk-14.8-1.3-0.9-2.6-2.8
 
Category: Long/Short Equity - UK
Category Benchmark: FTSE AllSh TR GBP
Key Stats
NAV
03/04/2025		 GBP 3.74
Day Change 0.11%
Morningstar Category™ Long/Short Equity - UK
IA (formerly IMA) Sector -
ISIN LU0200083342
Fund Size (Mil)
03/04/2025		 GBP 1467.25
Share Class Size (Mil)
03/04/2025		 GBP 11.26
Max Initial Charge 5.00%
Ongoing Charge
06/03/2025		  1.63%
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 A2 GBP
The Fund aims to achieve a positive (absolute) return, regardless of market conditions, over any 12-month period. A positive return is not guaranteed over this or any time period and, particularly over the shorter term, the Fund may experience periods of negative returns. Consequently, your capital is at risk.
Returns
Trailing Returns (GBP)03/04/2025
YTD1.85
3 Years Annualised5.61
5 Years Annualised4.22
10 Years Annualised2.84
12 Month Yield 0.00
Management
Manager Name
Start Date
Luke Newman
31/03/2010
Benjamin Wallace
31/03/2010
Inception Date
24/03/2005

Category Benchmark
Fund BenchmarkMorningstar Benchmark
Bank of England Base RateFTSE AllSh TR GBP
Portfolio Profile for  Janus Henderson Absolute Return Fund A2 GBP28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock55.9240.1915.74
Bond0.860.000.86
Property0.000.000.00
Cash138.3956.8281.57
Other1.850.011.83
Top 5 Regions%
United Kingdom79.47
United States12.92
Eurozone4.85
Europe - ex Euro1.91
Canada0.84
Top 5 Sectors%
No Data Available
Top 5 HoldingsSector%
RELX PLCIndustrialsIndustrials10.11
CFD on Unilever PLC3.85
Sherborne Investors (Guernsey) C... 1.85
CFD on Serco Group PLC1.78
CFD on Phoenix Group Holdings PLC1.75
Increase Decrease New since last portfolio
Janus Henderson Absolute Return Fund A2 GBP
Growth Of 1000 (GBP) 31/03/2025
Fund:  Janus Henderson Absolute Return Fund A2 GBP
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-3.283.552.233.53-0.986.986.881.70
+/- Category--------
+/- Category Index6.19-15.6212.05-14.80-1.32-0.94-2.58-2.81
% Rank in Category-
Trailing Returns (GBP)03/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.11   -4.98
1 Week0.13   -7.14
1 Month-0.10   -7.39
3 Months1.85   -4.19
6 Months3.03   -5.58
YTD1.85   -3.67
1 Year6.38   -2.90
3 Years Annualised5.61   -0.80
5 Years Annualised4.22   --7.58
10 Years Annualised2.84   --2.55
 
Category: Long/Short Equity - UK
Category Index: FTSE AllSh TR GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20251.70---
20242.330.902.490.99
20231.791.251.332.44
2022-2.06-1.55-0.613.32
20211.601.55-0.030.37
2020-0.431.920.060.69
 
 
 
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 Dev2.96 %
3-Yr Mean Return5.59 %
 
3-Yr Sharpe Ratio0.51
 
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 Alpha0.701.41
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 23462-
Market Capitalisation% of Equity
Giant35.59
Large20.23
Medium35.16
Small8.77
Micro0.24
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings15.420.81
Price/Book2.310.81
Price/Sales1.100.64
Price/Cash Flow12.790.89
Dividend-Yield Factor2.911.39
 
Long-Term Projected Earnings Growth9.530.96
Historical Earnings Growth0.790.31
Sales Growth11.181.72
Cash-Flow Growth5.310.81
Book-Value Growth1.390.29
 
Category: Long/Short Equity - UK
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock55.9240.1915.74
Bond0.860.000.86
Property0.000.000.00
Cash138.3956.8281.57
Other1.850.011.83
World Regions28/02/2025
 % of EquityRelative to Category
United States12.920.95
Canada0.841.44
Latin America0.00-
United Kingdom79.471.04
Eurozone4.850.80
Europe - ex Euro1.910.68
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 Holdings27.00
NameSectorCountry% of Assets
RELX PLC310United Kingdom10.11
CFD on Unilever PLCUnited Kingdom3.85
Sherborne Investors (Guernsey) C LtdGuernsey1.85
CFD on Serco Group PLCUnited Kingdom1.78
CFD on Phoenix Group Holdings PLCUnited Kingdom1.75
CFD on Severn Trent PLCUnited Kingdom1.71
Dbs Bank Ltd Td 4.76% Gbp 08-May-2025-1.57
Dbs Bank Ltd Td 4.67% Gbp 29-May-2025-1.51
Inactive Dbs Bank Ltd Td 4.81% Gbp 03... -1.44
Dbs Bank Ltd Td 4.81% Gbp 07-Apr-2025-1.42
 
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
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date24/03/2005
Fund Advisor(s)
Janus Henderson Investors UK Limited
Fund ManagerLuke Newman
Manager Start Date31/03/2010
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.
Fund ManagerBenjamin Wallace
Manager Start Date31/03/2010
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.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge1.63%
Purchase Details
Minimum Investments
Initial2000  GBP
Additional500  GBP
Savings-
Tax Free Savings Schemes
ISAsYes