JGDCX — Janus Henderson Global Income Managed Volatility Fund
Data updated: 2022-05-31
JGDCX — Janus Henderson Global Income Managed Volatility Fund. Global (incl. US) Mid Cap Value Equity. Holdings, fees, performance and SEC filings.
JGDCX Fund Overview
JGDCX — Janus Henderson Global Income Managed Volatility Fund is a US mutual fund managed by Janus Investment Fund, categorised as Global (incl. US) Mid Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Janus Investment Fund
- Category: Global (incl. US) Mid Cap Value Equity
- Assets under management: $118.96M
- 1-year return: 6.5%
- Ticker: JGDCX
- SEC CIK: 0000277751
- SEC series ID: S000035091
- Share class ID: C000107956
JGDCX Investment Objective and Strategy
Janus Henderson Global Income Managed Volatility Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Janus Investment Fund.
Investment objective
Janus Henderson Global Income Managed Volatility Fund seeks long-term growth of capital and income.
Principal investment strategy
The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in dividend-paying securities. The Fund invests primarily in common stocks from the universe of the MSCI World High Dividend Yield Index, utilizing Intech Investment Management LLCs (Intech) mathematical investment process, applying a managed volatility approach. The MSCI World High Dividend Yield Index is designed to reflect the performance of the high dividend yield securities contained within the broader MSCI World Index SM (the Funds primary benchmark index). The Fund may also invest in foreign equity and debt securities. The Fund seeks to produce returns in excess of the MSCI World High Dividend Yield Index (the Funds secondary benchmark index), but with lower absolute volatility.
The Fund seeks to generate such excess returns with absolute volatility that can range from approximately 0% to 45% lower than the MSCI World High Dividend Yield Index. In this context, absolute volatility refers to the variation in the returns of the Fund and the index as measured by standard deviation. This range is expected to be closer to 0% in less volatile markets and will increase as market conditions become more volatile. The Fund transitioned to a managed volatility strategy in December 2014. Since January 2015, when seeking to generate returns, the Fund has reduced volatility on average by approximately 19% relative to its secondary benchmark index (based on the standard deviation of monthly returns). As noted, the volatility reduction is expected to vary over time based on market conditions and other factors.
The Fund pursues its investment objective by applying a mathematical investment process to construct an investment portfolio from the universe of stocks within the secondary benchmark index. In pursuing its investment objective, the Fund will have exposure to investments that are economically tied to a number of countries throughout the world. The goal of this process is to combine stocks that individually have higher relative volatility, lower absolute volatility, and lower correlations with each other in an effort to reduce the Funds absolute volatility, while still generating returns that exceed the secondary benchmark index over a full market cycle (a time period representing a significant market decline and recovery). Although the Fund may underperform its secondary benchmark index in sharply rising markets, this strategy seeks to participate in normal rising markets and lessen losses in down markets.
In applying this strategy, Intech establishes target proportions of its holdings from stocks within the secondary benchmark index using an optimization process designed to determine the most effective weightings of each stock in the Fund. Once Intech determines such proportions and the Funds investments are selected, the Fund is periodically rebalanced to the set target proportions and re-optimized. The rebalancing techniques used by Intech may result in a higher relative portfolio turnover rate compared to a buy and hold fund strategy. The Fund may lend portfolio securities on a short-term or long-term basis, in an amount equal to up to one-third of its total assets as determined at the time of the loan origination.
JGDCX Holdings
Top 10 holdings of Janus Henderson Global Income Managed Volatility Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Lockheed Martin Corp | 0.05% |
| Consolidated Edison Inc | 0.05% |
| Kimberly-Clark Corp | 0.05% |
| CLP Holdings Ltd | 0.04% |
| Power Assets Holdings Ltd | 0.03% |
| Daito Trust Cons | 0.03% |
| CME Group Inc | 0.03% |
| Darden Restaurants Inc | 0.03% |
| Valero Energy Corp | 0.03% |
| NTT DOCOMO Inc | 0.03% |
JGDCX Portfolio Allocation
Asset-class allocation of Janus Henderson Global Income Managed Volatility Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 1.0% |
JGDCX Performance
Total returns for JGDCX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 6.5% |
| 3 years (annualised) | 5.4% |
JGDCX Risk Information
Risk metrics for JGDCX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 11.5%
JGDCX Costs and Fees
JGDCX costs about $161 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.61%
- Gross expense ratio: 1.86%
- Portfolio turnover: 117%
- Brokerage commissions: 9.91 bps of average net assets (SEC N-CEN)
JGDCX Cashflows
Over the 12 months to 2022-03, Janus Henderson Global Income Managed Volatility Fund had net inflows of $78.83M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-03 | $9.11M |
| 2022-02 | $4.76M |
| 2022-01 | $8.69M |
| 2021-12 | $4.96M |
| 2021-11 | $7.30M |
| 2021-10 | $3.84M |
JGDCX Debt Constituents
No individual debt constituents are reported in Janus Henderson Global Income Managed Volatility Fund's latest SEC N-PORT filing.
JGDCX Prospectus and SEC Filings
Official Janus Henderson Global Income Managed Volatility Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-10-28
- Prospectus (485BPOS) — filed 2020-10-28
- Prospectus supplement (497) — filed 2020-07-13
- Portfolio holdings (N-PORT) — filed 2022-05-31
- Portfolio holdings (N-PORT) — filed 2022-03-01
- Portfolio holdings (N-PORT) — filed 2021-11-29
- Annual census (N-CEN) — filed 2021-09-13
- Annual census (N-CEN) — filed 2020-09-11
Related Funds
Other Global (incl. US) Mid Cap Value Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.