Janus Henderson UK Alpha I

A multi-cap equity fund aiming to achieve capital growth from a portfolio of UK stocks.

  • 408.30p
    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).

  • 0.83%
    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.

  • 1.00%
    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…

Prices as at 30 July 2021, fund data last updated 30 May 2014

This fund aims to achieve capital growth by investing principally in the securities of UK companies. To achieve this, the managers invests in a portfolio selected from across the entire market capitalisation range, often taking positions that are substantially different from the benchmark. They focus on companies that are out of favour with the market, often with “special situations” characteristics such as takeover candidates or businesses with new management.

Fund summary

Sector UK All Companies
Structure OEIC
Launched November, 2001
Size £0m
Yield 1.00%
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 0.83%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 16/17 0.75%
  • 17/18 0.18%
  • 18/19 -0.24%
  • 19/20 -0.28%
  • 20/21 0.98%

Bestinvest MRI

  • 3 years 0.15%
  • 5 years 0.28%
  • Career 0.25%
  • 3 years 70.90%
  • 5 years 89.30%
  • Career 94.30%

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

Neil Hermon / James Ross

•Hermon is head of Pan European Smaller Companies at Henderson. Prior to joining Henderson he was head of UK Smaller Companies at General Accident (later to become CGU plc.). He continues this role when he joined Henderson in 2002. Hermon graduated from Cambridge University with a BSc (Hons) in Mathematics. He is an Associate of the Institute of Chartered Accountants of Scotland (CA) and an Associate Member of the UK Society of Investment Professionals (UKSIP). •Ross joined Henderson as a Graduate Trainee in 2007, began working on the Pan European Equities team in 2009 and moved to become a Fund Manager on the UK Equities team in 2013. Ross is CFA Charterholder, having passed the three CFA exams in three consecutive years, finishing in 2010. James Ross graduated from Durham University with a BA (Hons) in Economics.

Track record

Neil Hermon / James Ross has 8.4 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.25%. During the worst period of relative performance (from October 2017 - March 2020) there was a decline of 11% relative to the index. The worst absolute loss has been 32%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 94%.

Periods of worst performance

Absolute -32.00% (December 2019 - March 2020)
Relative -11.00% (October 2017 - March 2020)

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

4.1435% Intermediate Capital Group
3.5676% Rio Tinto
3.3442% Bellway
3.3427% Royal Dutch Shell Plc
3.3228% Relx Nv
3.3073% Integrafin Holdings Plc
3.0017% Sanne Group Plc
2.8803% Prudential Plc
2.7127% Clinigen Group Plc
2.6159% John Laing Group Plc
Source: Trustnet

Sector breakdown

Industrials 27.00%
Financials 25.00%
Consumer Services 15.00%
Consumer Goods 9.00%
Basic Materials 7.00%
Technology 5.00%
Oil & Gas 5.00%
Health Care 4.00%
Telecommunications 2.00%
Money Market 2.00%

Portfolio

60-80 stocks.

Constraints

There are no benchmark constraints. Max 10% cash.

Key Investor Information

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