Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Janus Henderson Global Real Estate Fund
JERNX (Mutual Fund)
Janus Henderson Global Real Estate Fund
Name
As of 12/03/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
5.9%
1 yr return
12.4%
3 Yr Avg Return
-3.3%
5 Yr Avg Return
1.4%
Net Assets
$436 M
Holdings in Top 10
39.6%
52 WEEK LOW AND HIGH
$12.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.84%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 77.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/03/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
JERNX - Profile
Distributions
- YTD Total Return 5.9%
- 3 Yr Annualized Total Return -3.3%
- 5 Yr Annualized Total Return 1.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.49%
- Dividend Yield 3.4%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameJanus Henderson Global Real Estate Fund
-
Fund Family NameJanus Henderson Funds
-
Inception DateNov 28, 2007
-
Shares OutstandingN/A
-
Share ClassN
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerGuy Barnard
Fund Description
The Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of real estate-related companies. These securities may include common stocks, preferred stocks, and other equity securities, including, but not limited to, real estate investment trusts (“REITs”) and similar REIT-like entities, such as foreign entities that have REIT characteristics and real estate operating companies (“REOCs”). The Fund may invest in shares of companies through initial public offerings and secondary offerings.As a fundamental policy, the Fund will concentrate 25% or more of its net assets in securities of issuers in real estate or real estate-related industries. The Fund’s investment in companies engaged in businesses outside the real estate industry which possess significant real estate holdings will be deemed to be in the real estate industry for purposes of the Fund’s investment objective and its policy on industry concentration.Real estate-related industries are comprised of companies that, in the opinion of portfolio management, at the time of investment, generally (i) derive at least 50% of their revenue from ownership, construction, extraction, financing, management, operation, sales or development of real estate, or from businesses which have a clear relationship to these activities; (ii) have at least 50% of their assets in real estate; or (iii) have more than 50% of their net asset value accounted for by real estate.A REIT is an entity dedicated to owning, and usually operating, income-producing real estate, or to financing real estate. REITs pool investors’ funds for investment primarily in income-producing real estate or real estate-related loans or interests. Under the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), a REIT is not taxed on income it distributes to its shareholders if it complies with several requirements relating to its organization, ownership, assets and income, and a requirement that it generally distributes to its shareholders at least 90% of its taxable income (other than net capital gains) for each taxable year. A REOC is a publicly traded corporation that is engaged in real estate businesses, but that has not taken (or is not eligible for) the REIT tax election and therefore does not have a requirement to distribute any of its taxable income.The Fund also invests in non-U.S. real estate and real estate-related companies. The Fund expects under normal market conditions to maintain investments in issuers that are economically tied to different countries throughout the world, including the United States. An issuer is deemed to be economically tied to a country or countries if one or more of the following tests are met: (i) the issuer is organized in, or its primary business office or principal trading market of its equity is located in, the country; (ii) a majority of the issuer’s revenues are derived from one or more countries; or (iii) a majority of the issuer’s assets are located in one or more countries.In choosing investments for the Fund, portfolio management applies a “bottom up” approach that utilizes portfolio management’s knowledge of issuers in the Americas and the Asia Pacific, European, and Latin American regions. Factors that portfolio management considers in their fundamental analysis includes a company’s balance sheet, valuation, strength of management, property markets and sectors, economics, and capital markets in seeking to determine the appropriate risk-adjusted return.To identify the universe of investible securities for the Fund, portfolio management also applies negative screens, which incorporate third-party inputs, to seek to avoid investing in (i) REITs that are involved in the operation of prison facilities and (ii) issuers that are United Nations Global Compact violators. At portfolio management’s discretion, the Fund will engage with companies regarding the adoption, or commitment to adopt, emission reduction targets. Under normal circumstances, the Fund will invest at least 10% of its assets in companies that have committed to such targets.Portfolio management will generally consider selling a security if it believes that its future prospects have been accurately reflected in the market price, the company no longer meets the social or environmental criteria noted above, or if their original investment thesis has changed.The Fund may seek to earn additional income through lending its securities to certain qualified broker-dealers and institutions 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.
Read More
JERNX - Performance
Return Ranking - Trailing
| Period | JERNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.9% | -9.2% | 30.1% | 59.20% |
| 1 Yr | 12.4% | -8.8% | 33.4% | 62.07% |
| 3 Yr | -3.3%* | -16.7% | 17.7% | 71.43% |
| 5 Yr | 1.4%* | -9.9% | 15.2% | 50.61% |
| 10 Yr | N/A* | -2.8% | 10.4% | 7.33% |
* Annualized
Return Ranking - Calendar
| Period | JERNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.5% | -16.8% | 16.7% | 82.08% |
| 2022 | -26.4% | -39.5% | 4.5% | 26.19% |
| 2021 | 15.5% | -0.9% | 30.7% | 72.56% |
| 2020 | -0.2% | -20.7% | 13.7% | 14.63% |
| 2019 | 24.8% | 1.0% | 26.5% | 6.75% |
Total Return Ranking - Trailing
| Period | JERNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.9% | -9.2% | 30.1% | 59.20% |
| 1 Yr | 12.4% | -8.8% | 33.4% | 62.07% |
| 3 Yr | -3.3%* | -16.7% | 17.7% | 71.43% |
| 5 Yr | 1.4%* | -9.9% | 15.2% | 50.61% |
| 10 Yr | N/A* | -2.8% | 10.4% | 6.67% |
* Annualized
Total Return Ranking - Calendar
| Period | JERNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.7% | -14.6% | 23.4% | 77.46% |
| 2022 | -25.2% | -39.5% | 10.1% | 34.52% |
| 2021 | 22.5% | 5.7% | 101.8% | 73.78% |
| 2020 | 1.6% | -17.8% | 14.7% | 13.41% |
| 2019 | 30.9% | 4.3% | 37.2% | 4.91% |
NAV & Total Return History
JERNX - Holdings
Concentration Analysis
| JERNX | Category Low | Category High | JERNX % Rank | |
|---|---|---|---|---|
| Net Assets | 436 M | 4.27 M | 7.48 B | 36.63% |
| Number of Holdings | 64 | 5 | 691 | 57.71% |
| Net Assets in Top 10 | 168 M | 2.13 M | 4.55 B | 41.14% |
| Weighting of Top 10 | 39.61% | 20.1% | 63.7% | 45.98% |
Top 10 Holdings
- Equinix, Inc. COM USD0.001 6.26%
- Realty Income Corporation COM USD1 5.11%
- Public Storage COM USD0.10 5.02%
- Welltower OP LLC COM USD1 4.73%
- Prologis Inc. COM USD0.01 4.17%
- AvalonBay Communities, Inc. COM USD0.01 3.23%
- Goodman Group NPV (STAPLED UNITS) 3.16%
- UDR Inc COM USD0.01 2.69%
- Mitsui Fudosan Co Ltd. NPV 2.68%
- American Homes 4 Rent COM USD0.01 'A' 2.56%
Asset Allocation
| Weighting | Return Low | Return High | JERNX % Rank | |
|---|---|---|---|---|
| Stocks | 100.42% | 3.62% | 126.54% | 5.14% |
| Cash | 0.27% | 0.00% | 11.23% | 87.43% |
| Convertible Bonds | 0.07% | 0.00% | 0.07% | 1.72% |
| Preferred Stocks | 0.00% | 0.00% | 7.25% | 10.29% |
| Other | 0.00% | -33.49% | 101.32% | 38.29% |
| Bonds | 0.00% | 0.00% | 22.09% | 7.43% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | JERNX % Rank | |
|---|---|---|---|---|
| Real Estate | 97.44% | 72.53% | 100.00% | 44.71% |
| Communication Services | 1.95% | 0.00% | 10.08% | 19.41% |
| Technology | 0.61% | 0.00% | 4.92% | 27.06% |
| Utilities | 0.00% | 0.00% | 0.96% | 6.47% |
| Industrials | 0.00% | 0.00% | 4.91% | 20.59% |
| Healthcare | 0.00% | 0.00% | 1.54% | 16.47% |
| Financial Services | 0.00% | 0.00% | 9.53% | 21.18% |
| Energy | 0.00% | 0.00% | 0.11% | 2.94% |
| Consumer Defense | 0.00% | 0.00% | 0.18% | 4.71% |
| Consumer Cyclical | 0.00% | 0.00% | 13.03% | 65.88% |
| Basic Materials | 0.00% | 0.00% | 1.63% | 7.65% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | JERNX % Rank | |
|---|---|---|---|---|
| US | 60.97% | 0.00% | 102.76% | 72.57% |
| Non US | 39.45% | 0.00% | 99.07% | 18.29% |
JERNX - Expenses
Operational Fees
| JERNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.84% | 0.10% | 36.96% | 85.14% |
| Management Fee | 0.77% | 0.09% | 1.50% | 47.70% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.25% | 71.88% |
Sales Fees
| JERNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| JERNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| JERNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 77.00% | 1.00% | 165.00% | 60.95% |
JERNX - Distributions
Dividend Yield Analysis
| JERNX | Category Low | Category High | JERNX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.37% | 0.00% | 5.52% | 20.57% |
Dividend Distribution Analysis
| JERNX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
| JERNX | Category Low | Category High | JERNX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.49% | -0.23% | 3.84% | 6.43% |
Capital Gain Distribution Analysis
| JERNX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Quarterly | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.103 | OrdinaryDividend |
| Mar 28, 2024 | $0.031 | OrdinaryDividend |
| Dec 11, 2023 | $0.161 | OrdinaryDividend |
| Sep 29, 2023 | $0.074 | OrdinaryDividend |
| Jun 30, 2023 | $0.063 | OrdinaryDividend |
| Mar 31, 2023 | $0.031 | OrdinaryDividend |
| Dec 22, 2022 | $0.094 | OrdinaryDividend |
| Sep 30, 2022 | $0.039 | OrdinaryDividend |
| Jun 30, 2022 | $0.036 | OrdinaryDividend |
| Mar 31, 2022 | $0.017 | OrdinaryDividend |
| Dec 22, 2021 | $0.738 | OrdinaryDividend |
| Sep 30, 2021 | $0.078 | OrdinaryDividend |
| Jun 30, 2021 | $0.047 | OrdinaryDividend |
| Mar 31, 2021 | $0.032 | OrdinaryDividend |
| Dec 21, 2020 | $0.096 | OrdinaryDividend |
| Sep 30, 2020 | $0.050 | OrdinaryDividend |
| Jun 30, 2020 | $0.052 | OrdinaryDividend |
| Mar 31, 2020 | $0.019 | OrdinaryDividend |
| Dec 19, 2019 | $0.291 | OrdinaryDividend |
| Dec 19, 2019 | $0.032 | CapitalGainShortTerm |
| Dec 19, 2019 | $0.109 | CapitalGainLongTerm |
| Sep 30, 2019 | $0.076 | OrdinaryDividend |
| Jun 28, 2019 | $0.066 | OrdinaryDividend |
| Mar 29, 2019 | $0.047 | OrdinaryDividend |
| Dec 20, 2018 | $0.213 | OrdinaryDividend |
| Dec 20, 2018 | $0.042 | CapitalGainShortTerm |
| Dec 20, 2018 | $0.175 | CapitalGainLongTerm |
| Sep 28, 2018 | $0.056 | OrdinaryDividend |
| Jun 29, 2018 | $0.040 | OrdinaryDividend |
| Mar 29, 2018 | $0.033 | OrdinaryDividend |
JERNX - Fund Manager Analysis
Managers
Guy Barnard
Start Date
Tenure
Tenure Rank
Jun 05, 2017
4.99
5.0%
"Guy Barnard is Co-Head of Global Property Equities at Janus Henderson Investors, a position he has held since 2014. He is also a Portfolio Manager responsible for managing the Global Real Estate Equity and Global Property Equity strategies. Guy joined Henderson in 2006 as an analyst and became a fund manager in 2008 and deputy head of Global Property Equities in 2012. Before Henderson, he worked for UBS in financial control. Guy holds a first class BSc degree (Hons) in mathematics and management from Loughborough University. He holds the Chartered Financial Analyst designation and has 16 years of financial industry experience."
Tim Gibson
Start Date
Tenure
Tenure Rank
Jun 05, 2017
4.99
5.0%
"Tim Gibson is Co-Head of Global Property Equities and a Portfolio Manager at Janus Henderson Investors, a position he has held since 2014. He has been with Henderson, based in Singapore, since 2011. Prior to joining Henderson, Tim was a European fund manager at AMP Capital Brookfield, where he was responsible for portfolio construction and execution of an indirect real estate fund. Before this, he worked as an analyst for Morgan Stanley on their European real estate investment team, in both London and Amsterdam, where he provided investment recommendations on property companies in the UK and Europe. Tim holds an MA (Hons) in economics from St Andrews University, Scotland and received the Robert Trent Jones Scholarship to the University of Western Ontario, Canada. He has 18 years of financial industry experience."
Greg Kuhl
Start Date
Tenure
Tenure Rank
Mar 19, 2019
3.2
3.2%
"Greg Kuhl is a Portfolio Manager, Global Property Equities at Janus Henderson Investors and is responsible for co-managing the Global Real Estate strategy. Prior to joining Henderson in 2015, Greg was vice president, global REITs at Brookfield Investment Management, where he was a senior analyst for global long-only and global long/short strategies focused on property equities across North America, Europe, and Asia. Before this, he was an analyst on the public real estate securities team at Heitman providing recommendations on property equities in North America. He began his career at Accenture as a financial services/capital markets analyst. Greg received a BBA degree in finance with a concentration in psychology from the University of Notre Dame, graduating cum laude. He holds the Chartered Financial Analyst designation and has 14 years of financial industry experience."
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 20.42 | 7.11 | 10.42 |
