[PDF]Strategic Income Fund - Rackcdn.comhttps://2deaa804a6dc693855a0-eba658c6bc03668a61900f643427d64d.ssl.cf1.rackc...
2 downloads
146 Views
541KB Size
3Q17 Fixed Income
Strategic Income Fund A: HFAAX
C: HFACX
I: HFAIX
N: HFARX
S: HFASX
T: HFATX
as of 9/30/17
Morningstar Category
Fund Description
World Bond
A global strategic fixed income fund seeking total return through current income and capital appreciation. The Fund makes strategic asset allocation decisions between countries, fixed income asset classes, sectors and credit ratings.
Portfolio Management John Pattullo Jenna Barnard, CFA
3Q17
YTD
1 yr
3 yr
5 yr
10 yr
Since Inception (9/30/03)
Class I Shares
1.04
5.02
4.34
5.02
5.39
3.66
5.26
Class T Shares
1.13
4.92
4.05
4.76
5.16
3.66
5.26
Class A Shares @ NAV
0.99
4.92
4.05
4.76
5.16
3.66
5.26
Class A Shares @ MOP
-3.79
-0.05
-0.91
3.08
4.15
3.16
4.90
Performance (%)
Fund Characteristics Inception Date
9/30/03
Assets
$492.47M
Number of Holdings Debt Issues
161
Effective Duration (years)
5.29
1.27
4.23
1.88
3.79
3.66
5.07
4.69
Distribution Frequency
Bloomberg Barclays Global Aggregate Credit Index (USD Hedged)
Monthly
3-Month USD LIBOR
0.33
0.82
1.03
0.59
0.47
0.95
1.67
30-Day SEC Yield (%) With Without Waivers Waivers Class I
2.47
2.35
Class T
2.38
2.38
Class A
2.07
1.96
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold. For the most recent month-end performance call 800.668.0434 or visit janushenderson.com/performance. Maximum Offering Price (MOP) returns include the maximum sales charge of 4.75%. Net Asset Value (NAV) returns exclude this charge, which would have reduced returns.
Calendar Year Returns (%)
2007 2008 2009 2010
2011
2012 2013 2014 2015 2016
Expense Ratios (%) Gross
Net
Class A
1.03
1.00
Class I Shares
3.36 -38.69 50.75 10.17
0.06 14.06
4.17
5.79
2.07
6.20
Class C
1.79
1.75
3-Month USD LIBOR
5.26
0.00
0.29
0.23
0.23
0.66
Class I
0.78
0.75
Class N
0.72
0.69
Class S
1.19
1.16
Class T
0.94
0.91
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 11/1/18. The expense ratios shown are estimated.
2.78
0.65
0.00
0.01
Hypothetical Growth of $10,000 Since Inception Class I Shares
3-Month USD LIBOR
$30,000 $20,811
$20,000
$12,615
$10,000 $0 9/30/03 2005 Source: Morningstar, Inc.
2007
2009
2011
2013
2015
9/30/17
Performance for Class A Shares, Class I Shares and Class T Shares that includes periods prior to 6/5/17 reflects the performance of one or more share classes of a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details. Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized. Not all Funds and Share classes may be available. Please consult your financial advisor. Continued on back page.
Strategic Income Fund (as of 9/30/17) Risk Statistics (3 Year)
Fund
Index
Sector Allocation (%)
Fund
Alpha
1.94
—
Credit-Investment Grade
44.33
Beta
0.80
1.00
Credit-High Yield
24.53
69.65
100.00
Treasurys
15.40
Standard Deviation
3.00
3.13
Bank Loans
8.17
Sharpe Ratio
1.57
1.12
Credit Default Swap
1.24
ABS
0.61
Government Related
0.51
CMBS
0.47
R-squared (%)
Statistics are for Class I Shares.
Top Countries (%)
Fund
United States
32.92
United Kingdom
29.72
Australia
11.38
Canada
4.52
Germany
3.18
Netherlands
2.99
Credit Quality of Fixed Income Holdings (%)
Fund
France
2.78
Aaa
16.68
Ireland
2.40
Aa
1.81
Luxembourg
2.25
A
6.92
Switzerland
0.75
Baa
35.41
Ba
18.28
B
9.92
Caa
0.59
Not Rated
4.37
Maturity Breakdown of Fixed Income Holdings (%)
Fund
1 - 3 yrs
6.70
3 - 5 yrs
16.96
5 - 7 yrs
18.46
7 - 10 yrs
26.09
10 - 20 yrs > 20 yrs
8.95
Short Futures
-0.01
Short Credit Default Swap
-1.27
Cash & Equivalents
6.02
Bond credit quality ratings provided by Barclays and reflect the middle rating received from Moody’s, Standard & Poor’s and Fitch, where all three agencies have provided a rating. If only two agencies rate a security, the lowest rating is used. If only one agency rates a security, that rating is used. Ratings are measured on a scale that ranges from Aaa (highest) to D (lowest).
16.82
For more information, please visit janushenderson.com. Index represents the Bloomberg Barclays Global Aggregate Credit Index (USD Hedged). Holdings are subject to change without notice. For a complete list of holdings as of the most recent publicly available disclosure period, visit janushenderson.com/info. Equity country, regional, sector and industry weights based on MSCI and GICS classifications. Fixed income country, regional, sector and industry weights based on Barclays classifications. Performance may be affected by risks that include those associated with nondiversification, portfolio turnover, short sales, potential conflicts of interest, foreign and emerging markets, initial public offerings (IPOs), high-yield and high-risk securities, undervalued, overlooked and smaller capitalization companies, real estate related securities including Real Estate Investment Trusts (REITs), derivatives, and commoditylinked investments. Each product has different risks. Please see the prospectus for more information about risks, holdings and other details. Fixed income securities are subject to interest rate, inflation, credit and default risk. The bond market is volatile. As interest rates rise, bond prices usually fall, and vice versa. The return of principal is not guaranteed, and prices may decline if an issuer fails to make timely payments or its credit strength weakens. Foreign securities are subject to additional risks including currency fluctuations, political and economic uncertainty, increased volatility, lower liquidity and differing financial and information reporting standards, all of which are magnified in emerging markets. High-yield or "junk" bonds involve a greater risk of default and price volatility and can experience sudden and sharp price swings. Holding a meaningful portion of assets in cash or cash equivalents may negatively affect performance. Index performance does not reflect the expenses of managing a portfolio as an index is
unmanaged and not available for direct investment. Bloomberg Barclays Global Aggregate Credit Index measures the credit sector of the global investment grade fixed-rate bond market, including corporate, government and agency securities. LIBOR (London Interbank Offered Rate) is a short-term interest rate that banks offer one another and generally represents current cash rates. Alpha compares risk-adjusted performance relative to an index. Positive alpha means outperformance on a risk-adjusted basis. Beta measures the volatility of a security or portfolio relative to an index. Less than one means lower volatility than the index; more than one means greater volatility. R-squared (R2) measures the relationship between portfolio and index performance on a scale of 0.00 (0%) to 1.00 (100%). A higher R2 indicates more of the portfolio's performance is affected by market movements and vice versa. Standard Deviation measures historical volatility. Higher standard deviation implies greater volatility. Sharpe Ratio measures risk-adjusted performance using excess returns versus the "risk-free" rate and the volatility of those returns. A higher ratio means better return per unit of risk.
Please consider the charges, risks, expenses and investment objectives carefully before investing. For a prospectus or, if available, a summary prospectus containing this and other information, please call Janus Henderson at 800.668.0434 or download the file from janushenderson.com/info. Read it carefully before you invest or send money. Janus Henderson is a trademark of Janus Henderson Investors. © Janus Henderson Investors. The name Janus Henderson Investors includes HGI Group Limited, Henderson Global Investors (Brand Management) Sarl and Janus International Holding LLC. Janus Henderson Distributors C-0917-12906 01-15-18 199-15-49869 10-17