Janus Henderson Asia Pacific Capital Growth I

Asia Pacific ex Japan equity portfolio also investing in Australasia and India.

  • 1668.00p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.75%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 0.88%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.60%

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 07 May 2021, fund data last updated 06 January 2005

The aim is to provide long term capital growth by investing in the Pacific region and Indian sub-continent companies. The fund may invest in Australasia, but not Japan. The fund invests in a concentrated portfolio and is not restricted in the size of companies in which it can invest. The investment process strikes a balance between top down macroeconomic (global economic views) calls and bottom up stockpicking, with the team split between London and Singapore.

Fund summary

Sector Asia Pacific Excluding Japan
Structure OEIC
Launched October, 2000
Size £0m
Yield 0.60%
Charging basis
Dividends paid Acc units only


Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.88%


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Investment process

The fund is managed in a top down style (assessing the global economic climate) with an emphasis on large companies closely aligned with the core stock list. With team members in both Singapore and London, the fund benefits from a global perspective and from 'on the ground' research. The team make frequent trips to the region with many companies now also presenting in the UK. In terms of individual company research, growth companies are typically sought, that is companies with unexpected earnings growth. Although the use of Global thematic influences is still quite rare in an Asian fund, the team have used this approach with some success in the past

Manager research

Average monthly relative returns

  • 16/17 0.34%
  • 17/18 -0.11%
  • 18/19 0.09%
  • 19/20 0.13%
  • 20/21 -0.01%

Bestinvest MRI

  • 3 years 0.07%
  • 5 years 0.09%
  • Career 0.04%
  • 3 years 74.20%
  • 5 years 83.70%
  • Career 79.70%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Andrew Gillan

Gillan joined Henderson in 2014 as Head of Asia ex-Japan Equities. Before joining Henderson, Gillan worked for Aberdeen Asset Management as an Asia & Emerging Markets equity fund manager and was lead manager of an Asian Investment Trust. Prior to his role at Aberdeen, he worked as a graduate trainee in the UK equities division at Murray Johnstone. He graduated from the University of Edinburgh with a MA Joint Honours in French and European History.

Track record

Andrew Gillan has 7.2 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.04%. During the worst period of relative performance (from January 2015 - April 2015) there was a decline of 6% relative to the index. The worst absolute loss has been 20%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 80%.

Periods of worst performance

Absolute -20.00% (March 2015 - September 2015)
Relative -6.00% (January 2015 - April 2015)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.


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Top 10 holdings

Data accurate as at 31 July 2020

9.5% Tencent Hldgs Limited
9.2% Alibaba Group Hldg Ltd
7.8% Taiwan Semiconductor Manufacturing
6.7% Samsung Electronics Co
3.8% Aia Group Ltd
3.6% Hdfc Bank Ltd
3.5% Uni President Enterprises Corp
3.3% Housing Development Finance Corp
3.2% Midea Group Co Ltd
2.9% New Oriental Education & Technology
Source: Trustnet

Sector breakdown

Consumer Discretionary 24.00%
Information Technology 24.00%
Financials 20.00%
Communications 10.00%
Consumer Staples 9.00%
Money Market 6.00%
Industrials 4.00%
Materials 3.00%


Stock turnover has, in the past, been high, with the portfolio holding around 40 stocks.


The manager is given a high degree of latitude, but country weights relative to the index are monitored.

Key Investor Information