Janus Henderson US Growth I

Focused US equity fund investing predominantly in large cap stocks.

  • 531.40p
    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).

  • 0.96%
    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%

    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 27 January 2022, fund commentary last updated 25 April 2012

This fund targets long term capital returns from investment predominantly in large cap US equities. Management has been outsourced to Marsico Capital Management since 2007. Marsico favours growing companies but has a flexible definition of growth, focusing on companies offering stable growth but also including faster growing companies and businesses undergoing change. Their process incorporates both bottom-up (individual company) and top-down (global economic) analysis.

Fund summary

Sector North America
Structure OEIC
Launched August, 2008
Size £371m
Yield 0.00%
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 0.96%


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Investment process

Manager research

Average monthly relative returns

  • 17/18 -0.40%
  • 18/19 0.20%
  • 19/20 0.50%
  • 20/21 0.89%
  • 21/22 -0.39%

Bestinvest MRI

  • 3 years 0.33%
  • 5 years 0.16%
  • Career 0.02%
  • 3 years 93.10%
  • 5 years 88.30%
  • Career 78.50%

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

Tom Marsico

Marsico is the founder of Marsico Capital Management, LLC and is Chairman, Chief Executive Officer, Senior Portfolio Manager and Senior Analyst. Prior to founding Marsico in 1997, he was portfolio manager at Janus Capital from 1986 to 1997. He has an MBA from the University of Denver (1979) and a BA from the University of Colorado (1977).

Track record

Tom Marsico has 14.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.02%. During the worst period of relative performance (from February 2009 - December 2017) there was a decline of 27% relative to the index. The worst absolute loss has been 24%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 79%.

Periods of worst performance

Absolute -24.00% (December 2007 - February 2009)
Relative -27.00% (February 2009 - December 2017)

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 30 November 2021

7.696% Microsoft Corp
5.6983% Amazon.com Inc
4.583% Apple Inc
3.9619% Blackstone Group Lp
3.8906% Adobe Inc
3.7109% Danaher Corp
3.4061% Sherwin-Williams Co
3.1535% Asml Holding Nv
3.0071% Dexcom Inc
2.9429% Align Technology Inc
Source: Trustnet

Sector breakdown

Information Technology 32.00%
Communications 13.00%
Health Care 13.00%
Consumer Discretionary 13.00%
Industrials 7.00%
Financials 7.00%
Materials 4.00%
Money Market 4.00%
Real Estate 2.00%
Consumer Staples 2.00%


Typically 35 to 50 stocks.


Other than regulatory requirements, the fund is unconstrained. High conviction ideas may be expressed in position sizes of 5-8%. Established ideas will generally be 3-5% of assets and new ideas will typically be introduced as 1-3% weights.

Key Investor Information