What Funds Does Janus Have (CLDT GILD TSM AMT)

Post on: 24 Май, 2015 No Comment

What Funds Does Janus Have (CLDT GILD TSM AMT)

Janus Capital Group, Inc. (JNS ), formerly one of the largest asset management firms in the world and now hoping for resurgence with the signing of PIMCO founder Bill Gross. sells multiple mutual funds in various sectors. The only thing said funds have in common is that they’re actively managed. Janus (along with subsidiaries INTECH Investment Management and Perkins Investment Management) operates a total of 45 funds: five under the INTECH brand, six more under Perkins (each a firm that Janus purchased gradually larger pieces of over the last decade, until finally obtaining controlling interest in both), and the remainder Janus-branded. (For related reading, see: What to Expect from Pimco After Bill Gross .)

Janus’s many Funds

The 34 Janus offerings start with the eponymous Janus Fund, founded in 1970 as a growth fund and with a modest $7.7 billion in holdings. The fund has positions in issues that range from the obligatory (Apple Inc. [AAPL ], 6.32%) to the obscure (American Tower Corp. [AMT ], 2.31%. American Tower makes broadcast and satellite towers).

Janus made its name in large growth funds such as the Janus Fund, which now has four brethren in this category – the Research, Preservation (Growth), Twenty, and Forty Funds. In stunning contrast to the Janus Fund, the Research Fund has 6.16% of its money invested in Apple (and 1.94% in American Tower). “Twenty” and “Forty” refer to the low number of stocks those particular funds hold. “High-conviction investing,” they call it. Which means greater volatility, and over the last few years at any rate, greater returns (about 10% annualized for each since 2004.) (For more, see: What Bill Gross’s Arrival Means to Janus .)

Focused Equity Funds

As Janus evolved, and the mutual fund profession got more specialized, the firm created funds with different objectives, some focusing on different industrial or geographic sectors of the economy. These include its Global Life Sciences Fund (top holding: Gilead Sciences, Inc. [GILD ], 3.36%), Global Real Estate Fund (Chatham Lodging Trust [CLDT ], 3.41%), Global Technology Fund (Apple, 11.67%), Asia Equity Fund (Taiwan Semiconductor [TSM ], 4.14%), and Emerging Markets (Taiwan Semiconductor, 4.24%).

There are also large blend funds (Contrarian, Growth & Income, as distinguished from foreign large blend funds (International Equity, Overseas). Not to mention funds distinguished by the size of the companies they invest in, like midcap growth (Enterprise) and small growth (Titan, Venture). Or funds that invest in derivatives, mostly swaps and financial instrument futures (Diversified Alternatives). Add the funds that attempt to strike to allocate evenly among sectors (Balanced), and the remaining Global Allocation series funds, and Janus has most bases covered. (For a searchable list of Janus funds, click here .)

Not Just Equity Funds

Which about handles it for equities. As for debt issues, Janus wouldn’t have attracted the world’s most famous bond trader without a commitment to bond funds. Janus’s funds involved primarily in bonds include, with each one’s top holdings:

High-Yield (ADS Tactical 11% maturing April 1, 2018, 1.88%)

Short-Term Bond (Treasuries maturing April 15, 2015 at 3.48%)

Flexible Bond (i.e. intermediate term) (same, maturing May 31, 2016, at 3.97%)

Global Bond (same, maturing Jan. 31, 2016, at 11.04%)

Real Return (Meritage Homes 4.5%, maturing March 1, 2018, at 3.35%)

Multi-sector Income (0.5% T-Notes, maturing Aug. 31, 2016, at 3.51%)

Unconstrained Bond (same, maturing June 30, 2016, at 7.06%)

Janus acknowledges that some of these bond funds (e.g. Multi-sector income) are deep into what are euphemistically styled “below investment-grade ” issues.

The ‘Bond King’ Cometh

It’s the last one, the Global Unconstrained Bond Fund (JUCIX ), that’s of the greatest interest to many investors. First, it’s one of only three Janus funds to have lost money in 2014. Second, it’s the newest fund in the company’s arsenal. Third and most importantly, it’s the vehicle created specifically for Bill Gross to drive. By having him manage a fund that isn’t formulated to beat a particular index or other benchmark (hence “unconstrained”), Janus hopes to bring more of that high-conviction investing to its debt offerings. The fund is still in its nascence, founded in May of 2014 with assets of $79 million, but it’ll look vastly different once Gross has populated it with issues of his choosing. As of Oct. 31, 2014, it had added $364 million in new assets following the Bond King’s arrival. (For related reading, see: Alternatives to Pimco’s Total Return Fund .)

The Bottom Line

The remaining Janus funds include two money market funds (one eponymous, one Government), with combined net assets of $1.4 billion and, of course, used to preserve capital in the most liquid way available. Regardless of your risk level, capital on hand, and investment objectives, Janus has a fund for you and many others. (For related reading, see: Fund Firm Jolts: Pimco’s Isn’t the First or Worst .)

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