Mid-Year Market GPS 2019
Which themes are shaping the 2019 investment landscape? Read the thinking of our investment teams in the Janus Henderson Mid-Year Market GPS.
INVESTMENT STRATEGIES
Global Life Sciences
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Overview
We believe in the power of deep fundamental research to identify life science companies trading at a significant discount to intrinsic value. We feel the quality of our team, the depth of our research, and our disciplined long-term approach set us apart in pursuing superior risk-adjusted results for our clients.
Investment Approach
- In addition to the powerful demographic trends affecting the sector, health care is experiencing acceleration in innovation. The portfolio seeks to invest in growth companies that are addressing unmet medical needs or making the health care system more efficient and affordable.
- Our dedicated team of analysts has 95 years of combined experience investing in health care companies. In this complex and rapidly growing sector, we believe it is critical to have an experienced team that seeks to understand both the science and the business of the companies in which they invest.
- We believe the combination of deep fundamental research and disciplined portfolio construction will lead to consistently strong results relative to both the health care sector and the broader equity market. The portfolio seeks balance across the subsectors of health care and to diversify across market-cap segments and geographies.
Finding Growth in Health Care
Dedicated Sector Experts
Deep and Disciplined
Working to be Consistently Good… Not Occasionally Great
GLOBAL LIFE SCIENCES COMPOSITE OUTPERFORMED THE MSCI WORLD HEALTHCARE INDEX℠ 107 OF 120 PERIODS, OR 89% OF THE TIME
ANNUALIZED MONTHLY ROLLING THREE-YEAR RETURNS*
* Returns based on 10-year time frame ending 6/30/19
Portfolio Management
Featured Insights
Currents of Disruption: Targeted Therapies Improve Cancer Outcomes
Global Life Sciences Co-Portfolio Manager Ethan Lovell discusses how faster, more accurate diagnoses followed by targeted therapies are transforming the way we tackle cancer treatment, leading to better clinical outcomes while reducing inefficiency in health care delivery.
Smart Devices Improve Clinical Outcomes, Enhance Lifestyle for Diabetics
Continuous Glucose Monitors and insulin pumps allow diabetics to avoid peaks and troughs in their blood sugar, substantially improving health care options.
Performance
RETURNS
| Inception: Jan 01, 1999 | 3M | YTD | 1YR | 3YR | 5YR | 10YR | Since Inception |
|---|---|---|---|---|---|---|---|
| Composite Gross | -6.44% | 9.06% | -5.44% | 8.94% | 8.36% | 16.41% | 11.84% |
| Composite Net | -6.60% | 8.54% | -6.06% | 8.25% | 7.66% | 15.64% | 10.77% |
| MSCI World Health Care Index (Gross) | -1.14% | 8.87% | -1.31% | 8.57% | 6.92% | 12.28% | 6.51% |
| Inception: Jan 01, 1999 | 3M | YTD | 1YR | 3YR | 5YR | 10YR | Since Inception |
|---|---|---|---|---|---|---|---|
| Composite Gross | -6.44% | 9.06% | -5.44% | 8.94% | 8.36% | 16.41% | 11.84% |
| Composite Net | -6.60% | 8.54% | -6.06% | 8.25% | 7.66% | 15.64% | 10.77% |
| MSCI World Health Care Index (Gross) | -1.14% | 8.87% | -1.31% | 8.57% | 6.92% | 12.28% | 6.51% |
Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. Composite returns are net of transaction costs and gross of non-reclaimable withholding taxes, if any, and reflect the reinvestment of dividends and other earnings.
The gross performance results presented do not reflect the deduction of investment advisory fees and returns will be reduced by such advisory fees and other contractual expenses as described in the individual contract and Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but they do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy shown and may be higher or lower than model advisory fees. Returns for each client will be reduced by such fees and expenses as negotiated in any client contract as discussed in Form ADV Part 2A.
Prior to 2008, net returns shown are net of all fees and expenses.
For a complete list of holdings as of the most recently available disclosure period, contact us.
The gross performance results presented do not reflect the deduction of investment advisory fees and returns will be reduced by such advisory fees and other contractual expenses as described in the individual contract and Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but they do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy shown and may be higher or lower than model advisory fees. Returns for each client will be reduced by such fees and expenses as negotiated in any client contract as discussed in Form ADV Part 2A.
Prior to 2008, net returns shown are net of all fees and expenses.
For a complete list of holdings as of the most recently available disclosure period, contact us.