Janus Henderson Institutional Long Dated Gilt A

  • 244.10p
    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.

  • 275.70p
    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?

  • 4.00% 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!

  • 1.00%
    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).

  • 1.16%
    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%
    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…

Prices as at 21 September 2020

Fund summary

Sector UK Gilt
Structure OEIC
Launched September, 2000
Size £0m
Yield 0.60%
Charging basis Income
Dividends paid 28 Feb, 31 May, 31 Aug, 30 Nov

Charges

Standard initial charge 4.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.00%
Ongoing charges figure 1.16%

Allocation

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Investment process

The fund's aim is to provide a return by investing primarily in long dated UK Government securities. The Fund may also invest in UK Government floating rate notes.

Manager research

Average monthly relative returns

  • 15/16 0.40%
  • 16/17 -0.25%
  • 17/18 -0.06%
  • 18/19 0.31%
  • 19/20 -0.08%

Bestinvest MRI

  • 3 years 0.05%
  • 5 years 0.06%
  • Career 0.00%
  • 3 years 74.20%
  • 5 years 80.00%
  • Career 83.70%

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

Phil Apel

Apel is Head of Interest Rate Strategy and joined Henderson Global Investors in 2005. He graduated from the University of Nottingham with a BA (Hons) in Economics. His career began in 1988 when he started work as an assistant fund manager at Sun Life of Canada. He subsequently joined UBS Global Asset Management as a fund manager in the fixed income team and became Head of UK Fixed Income and Global Sovereign Strategy.

Track record

Phil Apel has 13.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -00%. During the worst period of relative performance (from November 2006 - January 2011) there was a decline of 9% relative to the index. The worst absolute loss has been 11%.

Periods of worst performance

Absolute -11.00% (August 2016 - January 2017)
Relative -9.00% (November 2006 - January 2011)

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

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Top 10 holdings

Data accurate as at 31 July 2020

8.1% Hm Treasury United Kingdom Dmo 1.75% Gilt 07/09/37 Gbp0.01
6% Hm Treasury United Kingdom Dmo 1.5% Gilt 22/07/47 Gbp1
5.6% Hm Treasury United Kingdom Dmo 3.25% Gilt 22/01/44 Gbp0.01
5.2% Hm Treasury United Kingdom Dmo 4% Gilt 22/01/60 Gbp0.01
5.1% Hm Treasury United Kingdom Dmo 4.25% Gilt 07/12/55 Gbp0.01
5% Hm Treasury United Kingdom Dmo 3.75% Gilt 22/07/52 Gbp0.01
4.8% Hm Treasury United Kingdom Dmo 4.5% Gilt 7/12/42 Gbp
4.7% Hm Treasury United Kingdom Dmo 3.5% Gilt 22/01/45 Gbp
4.6% Hm Treasury United Kingdom Dmo 3.5% Gilt 22/07/68 Gbp0.01
4.3% Hm Treasury United Kingdom Dmo 2.5% Gilt 22/07/65 Gbp0.1
Source: Trustnet

Sector breakdown

AA 83.00%
Non-Rated 10.00%
Money Market 4.00%
BBB 2.00%
AAA 1.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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