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Trending ETFs

Janus Henderson Global Real Estate Fund

mutual fund
JERSX
Payout Change
Pending
Price as of:
$11.07 -0.01 -0.09%
primary theme
International Real Estate
JERSX (Mutual Fund)

Janus Henderson Global Real Estate Fund

Payout Change
Pending
Price as of:
$11.07 -0.01 -0.09%
primary theme
International Real Estate
JERSX (Mutual Fund)

Janus Henderson Global Real Estate Fund

Payout Change
Pending
Price as of:
$11.07 -0.01 -0.09%
primary theme
International Real Estate

Name

As of 06/14/2024

Price

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

$11.07

$436 M

0.61%

$0.07

1.38%

Vitals

YTD Return

-4.3%

1 yr return

0.3%

3 Yr Avg Return

-6.9%

5 Yr Avg Return

0.4%

Net Assets

$436 M

Holdings in Top 10

39.0%

52 WEEK LOW AND HIGH

$11.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.38%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 77.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

Price

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

$11.07

$436 M

0.61%

$0.07

1.38%

JERSX - Profile

Distributions

  • YTD Total Return -4.3%
  • 3 Yr Annualized Total Return -6.9%
  • 5 Yr Annualized Total Return 0.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.06%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Janus Henderson Global Real Estate Fund
  • Fund Family Name
    Janus Henderson Funds
  • Inception Date
    Nov 28, 2007
  • Shares Outstanding
    N/A
  • Share Class
    S
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Tim Gibson

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.
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JERSX - Performance

Return Ranking - Trailing

Period JERSX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.3% -12.6% 18.5% 74.32%
1 Yr 0.3% -14.9% 15.2% 85.79%
3 Yr -6.9%* -18.1% 17.6% 83.72%
5 Yr 0.4%* -10.5% 16.5% 49.71%
10 Yr 3.6%* -3.2% 10.6% 28.30%

* Annualized

Return Ranking - Calendar

Period JERSX Return Category Return Low Category Return High Rank in Category (%)
2023 4.5% -16.8% 16.7% 84.53%
2022 -26.3% -43.9% 4.5% 22.73%
2021 15.1% -13.9% 30.7% 74.42%
2020 -0.3% -20.7% 13.7% 16.86%
2019 24.7% 1.0% 26.5% 7.60%

Total Return Ranking - Trailing

Period JERSX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.3% -12.6% 18.5% 74.32%
1 Yr 0.3% -14.9% 15.2% 85.79%
3 Yr -6.9%* -18.1% 17.6% 83.72%
5 Yr 0.4%* -10.5% 16.5% 49.71%
10 Yr 3.6%* -3.2% 10.6% 28.30%

* Annualized

Total Return Ranking - Calendar

Period JERSX Return Category Return Low Category Return High Rank in Category (%)
2023 7.1% -14.6% 23.4% 82.87%
2022 -25.5% -39.5% 10.1% 40.91%
2021 21.9% 5.7% 101.8% 79.65%
2020 0.9% -17.8% 14.7% 18.60%
2019 30.2% 4.3% 37.2% 8.77%

NAV & Total Return History


JERSX - Holdings

Concentration Analysis

JERSX Category Low Category High JERSX % Rank
Net Assets 436 M 4.31 M 7.19 B 38.33%
Number of Holdings 56 5 682 81.97%
Net Assets in Top 10 173 M 1.84 M 4.29 B 39.89%
Weighting of Top 10 38.98% 19.9% 62.1% 51.10%

Top 10 Holdings

  1. EQUINIX INC 6.23%
  2. PROLOGIS INC 5.63%
  3. Welltower Inc 4.81%
  4. Extra Space Storage Inc 3.73%
  5. AvalonBay Communities Inc 3.73%
  6. CubeSmart 3.14%
  7. Goodman Group 3.06%
  8. Sabra Health Care REIT Inc 2.93%
  9. Mitsui Fudosan Co Ltd 2.90%
  10. Mitsubishi Estate Co Ltd 2.82%

Asset Allocation

Weighting Return Low Return High JERSX % Rank
Stocks
99.83% 3.11% 126.54% 7.10%
Cash
0.17% 0.00% 10.38% 89.07%
Convertible Bonds
0.07% 0.00% 0.07% 1.10%
Preferred Stocks
0.00% 0.00% 7.47% 20.77%
Other
0.00% -33.49% 103.58% 38.25%
Bonds
0.00% 0.00% 23.57% 20.22%

Stock Sector Breakdown

Weighting Return Low Return High JERSX % Rank
Real Estate
97.44% 72.53% 100.00% 42.70%
Communication Services
1.95% 0.00% 10.08% 17.98%
Technology
0.61% 0.00% 4.92% 28.65%
Utilities
0.00% 0.00% 0.96% 16.85%
Industrials
0.00% 0.00% 4.91% 28.65%
Healthcare
0.00% 0.00% 1.54% 24.72%
Financial Services
0.00% 0.00% 9.53% 29.21%
Energy
0.00% 0.00% 0.11% 13.48%
Consumer Defense
0.00% 0.00% 0.18% 15.17%
Consumer Cyclical
0.00% 0.00% 13.03% 71.91%
Basic Materials
0.00% 0.00% 1.63% 17.98%

Stock Geographic Breakdown

Weighting Return Low Return High JERSX % Rank
US
57.36% 0.00% 100.72% 75.41%
Non US
42.48% 0.00% 98.96% 18.58%

JERSX - Expenses

Operational Fees

JERSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.38% 0.11% 36.96% 47.54%
Management Fee 0.77% 0.09% 1.50% 47.25%
12b-1 Fee 0.25% 0.00% 1.00% 14.81%
Administrative Fee 0.25% 0.01% 0.25% 98.15%

Sales Fees

JERSX 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

JERSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% 24.53%

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.

JERSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 77.00% 1.00% 165.00% 58.76%

JERSX - Distributions

Dividend Yield Analysis

JERSX Category Low Category High JERSX % Rank
Dividend Yield 0.61% 0.00% 5.52% 48.63%

Dividend Distribution Analysis

JERSX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Quarterly

Net Income Ratio Analysis

JERSX Category Low Category High JERSX % Rank
Net Income Ratio 2.06% -0.23% 3.84% 20.11%

Capital Gain Distribution Analysis

JERSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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JERSX - Fund Manager Analysis

Managers

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."

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."

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