fund
Janus Henderson Global Equity I
Invests in innovation focused international equities.
-
373.50p
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 chargeSome 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).
-
0.87%
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.
-
0.00%
Yield
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…
This fund invests internationally in a fairly concentrated portfolio of companies offering access to innovation led growth. Originally a pure technology fund, the mandate of the fund was expanded in 2010 to incorporate healthcare and environmental companies in addition to traditional technology stocks. The fund typically has a bias to the US and the majority of stocks are selected by Henderson's Technology Team.
Fund summary
| Sector | Global |
| Structure | UNIT TRUST |
| Launched | August, 2012 |
| Size | £720m |
| Yield | 0.00% |
| Charging basis | Income |
| Dividends paid | Acc units only |
Charges
| 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 | 0.87% |
Allocation
Proportion (%)
-
{{chartDataItem.text}}{{chartDataItem.value}}
Allocation
Proportion (%)
-
{{chartDataItem.text}}{{chartDataItem.value}}
Allocation
Proportion (%)
-
{{chartDataItem.text}}{{chartDataItem.value}}
Investment process
The fund focuses on a number of investment themes: - E-commerce; - Online advertising - Connectivity; - Data growth; - Paperless Payment; - Population Growth - Global Ageing - Obesity. The latter two themes, which sit outside the traditional definition of technology stocks, comprise around 10% of the fund each and are managed by Henderson's SRI team. Here expertise in such growth industries as cleaner energy and and energy efficiency. Whilst stocks are targeted within the above framework of investment themes, the primary portfolio driver is bottom-up (analysing a company in its own right) stock selection, focusing on company valuation and assessing a companies potential from an extensive network of industry and company contacts.
This fund started life as a pure technology fund but has since evolved to include other niche industries that are expected to experience rapid growth. Whilst an unconstrained approach best suits this style of fund, we have higher conviction in a number of alternative, higher risk specialist funds targeting above average returns.
Manager research
Average monthly relative returns
- 16/17 -0.31%
- 17/18 0.46%
- 18/19 0.04%
- 19/20 0.01%
- 20/21 0.57%
Bestinvest MRI
- 3 years 0.21%
- 5 years 0.15%
- Career 0.30%
- 3 years 84.10%
- 5 years 83.70%
- Career 98.10%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Ian Warmerdam
Warmerdam has been Director of Technology Investment at Henderson Global Investors since the start of 2007, having joined the company in 2001. Prior to joining Henderson he worked at both Scottish Widows and Scottish Life where his career began as a US Equity Investment Analyst. He has an MSc in investment analysis from the University of Stirling. He is an Associate Member of the Society of Investment Professionals and BSc in Technology and Business Studies from the University of Strathclyde.
Track record
Ian Warmerdam has 8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.3%. During the worst period of relative performance (from February 2014 - April 2014) there was a decline of 8% relative to the index. The worst absolute loss has been 13%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 98%.
Periods of worst performance
| Absolute | -13.00% (August 2018 - December 2018) |
| Relative | -8.00% (February 2014 - April 2014) |
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.
Allocation
Proportion (%)
-
{{chartDataItem.text}}{{chartDataItem.value}}
Allocation
Proportion (%)
-
{{chartDataItem.text}}{{chartDataItem.value}}
Allocation
Proportion (%)
-
{{chartDataItem.text}}{{chartDataItem.value}}
Top 10 holdings
Data accurate as at 31 May 2020
| 4.6% | Alphabet Inc |
| 4.6% | Microsoft Corp |
| 4.3% | Amazon.com Inc |
| 3.5% | Unilever |
| 3.4% | Adobe Inc |
| 3.3% | Facebook Inc |
| 3.1% | Apple Inc |
| 3% | Netflix Inc |
| 2.9% | Novo-Nordisk As |
| 2.9% | Relx Nv |
| Source: Trustnet |
Sector breakdown
| Information Technology | 27.00% |
| Communications | 17.00% |
| Consumer Discretionary | 13.00% |
| Financials | 12.00% |
| Health Care | 9.00% |
| Consumer Staples | 9.00% |
| Industrials | 6.00% |
| Money Market | 3.00% |
| Materials | 2.00% |
| Real Estate | 2.00% |
Portfolio
40-60 stocks invested across the market capitalisation spectrum.
Constraints
There are no formal limits on the portfolio, but the investment policy means that the fund will typically have substantial exposure to North America.
Key Investor Information