Global Sector Views
Read the latest insights from our research team and learn how they are navigating the opportunities and risks within each sector.
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JRAIX
)
Research Fund
Large-Cap Growth Utilizing Our Analysts' Best Ideas
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Overview
Client Commitment
By investing in the best ideas from each global research sector team, this U.S. large-cap growth fund seeks long-term growth of capital with volatility similar to its peers. Our analysts identify industry-leading companies with brand power, enduring business models and strong competitive positioning.
Why Invest in the Fund
- Our teams of dedicated sector specialists conduct independent, differentiated research to construct unique sector portfolios that are combined to form a diversified fund. This design allows investors to benefit directly from the insights and expertise of Janus Henderson’s equity research team.
- Each of our experienced global sector teams builds a high-conviction portfolio of their best ideas. All ideas and position sizes are debated and fully vetted before entry into the portfolio.
- The Fund’s disciplined investment process is designed to minimize macro risks by aligning sector allocations with the benchmark. This allows fundamental, bottom-up stock selection within each sector to be the primary driver of returns.
Managed by Sector Experts
Pure Stock Picking Approach
Minimize the Macro
Portfolio Management
Featured Insights
Performance
RETURNS
| Inception: May 03, 1993 | 3M | YTD | 1YR | 3YR | 5YR | 10YR | Since Inception |
|---|---|---|---|---|---|---|---|
| Research Fund – I Shares | 0.04% | 23.00% | 3.23% | 14.39% | 11.50% | 13.68% | 11.18% |
| Russell 1000® Growth Index | 1.49% | 23.30% | 3.71% | 16.89% | 13.39% | 14.94% | 9.54% |
| S&P 500® Index | 1.70% | 20.55% | 4.25% | 13.39% | 10.84% | 13.24% | 9.64% |
| Inception: May 03, 1993 | 3M | YTD | 1YR | 3YR | 5YR | 10YR | Since Inception |
|---|---|---|---|---|---|---|---|
| Research Fund – I Shares | 0.04% | 23.00% | 3.23% | 14.39% | 11.50% | 13.68% | 11.18% |
| Russell 1000® Growth Index | 1.49% | 23.30% | 3.71% | 16.89% | 13.39% | 14.94% | 9.54% |
| S&P 500® Index | 1.70% | 20.55% | 4.25% | 13.39% | 10.84% | 13.24% | 9.64% |
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.
View Fees and Expenses
Performance for Class I Shares that includes periods prior to 7/6/09 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details concerning historical performance.
View Fees and Expenses
Performance for Class I Shares that includes periods prior to 7/6/09 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details concerning historical performance.
CALENDAR YEAR PERFORMANCE
RETURNS-BASED STATISTICS
(As of 08/31/19 CLASS I SHARES)
RISK / REWARD
|
3 YEAR | 5 YEAR |
|---|---|---|
| Information Ratio | -1.20 | -0.88 |
| Alpha | -1.92 | -1.58 |
| Tracking Error | 2.16 | 2.24 |
| Beta | 0.98 | 0.99 |
| R-Squared (%) | 97.37 | 97.03 |
UP AND DOWN MARKET CAPTURE (%)
|
3 YEAR | 5 YEAR |
|---|---|---|
| Up Capture Ratio | 89.98 | 92.32 |
| Down Capture Ratio | 98.67 | 100.86 |
STANDARD DEVIATION |
3 YEAR | 5 YEAR |
|---|---|---|
| Research Fund | 13.18 | 12.94 |
| Russell 1000® Growth Index | 13.28 | 12.92 |
SHARPE RATIO |
3 YEAR | 5 YEAR |
|---|---|---|
| Research Fund | 0.98 | 0.79 |
| Russell 1000® Growth Index | 1.17 | 0.94 |
ANNUAL FEES & EXPENSES(As of Fiscal Year End, 09/30/18) |
CLASS I SHARES |
|---|---|
| Management Fees | 0.56% |
| 12b-1 Fees | - |
| Other Expenses | 0.09% |
| Total Gross Expenses | 0.65% |
| Waivers | 0.00% |
| Total Net Expenses | 0.65% |
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 2/1/20.
Characteristics
TOP HOLDINGS(As of 08/31/2019) |
% of Fund |
|---|---|
| Microsoft Corp | 8.56 |
| Amazon.com Inc | 6.11 |
| Alphabet Inc | 5.88 |
| Apple Inc | 3.36 |
| Visa Inc | 3.26 |
| Mastercard Inc | 3.05 |
| Adobe Inc | 2.84 |
| salesforce.com Inc | 2.60 |
| Texas Instruments Inc | 2.51 |
| Facebook Inc | 2.50 |
| TOTAL | 40.67 |
PORTFOLIO CHARACTERISTICS(As of 08/31/19) |
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DEVELOPED VS. EMERGING MARKET(As of 08/31/19) |
% OF FUND | % OF INDEX |
|---|---|---|
| U.S. | 99.85 | 99.63 |
| Cash & Equivalents | 0.15 | - |
RESEARCH SECTOR ALLOCATION(As of 08/31/19) |
% OF FUND | % OF INDEX |
|---|---|---|
| Technology | 42.07 | 41.12 |
| Consumer | 20.38 | 21.20 |
| Health Care | 13.98 | 14.41 |
| Financials | 11.91 | 11.87 |
| Industrials & Materials | 11.16 | 11.14 |
| Energy & Utilities | 0.35 | 0.26 |
| Cash & Equivalents | 0.15 | - |
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS(As of 08/31/2019) |
% OF FUND | % OF INDEX |
|---|---|---|
| Over $100B | 56.91 | 58.22 |
| $50B to $100B | 10.87 | 13.53 |
| $10B to $50B | 26.07 | 22.44 |
| $5B to $10B | 4.62 | 5.14 |
| $1B to $5B | 1.38 | 0.67 |
REGIONAL ALLOCATION(As of 08/31/19) |
% OF FUND | % OF INDEX |
|---|---|---|
| North America | 99.85 | 99.63 |
| Cash & Equivalents | 0.15 | - |
Commentary & Literature
2Q19 Portfolio Commentary Highlights
- Stocks gained ground in the second quarter, but were volatile.
- The Fund outperformed its benchmarks during the period.
- We believe compelling, long-term growth opportunities can continue to be found throughout the market’s sectors.