Janus Henderson Global Equity Fund I Acc
Rated Fund 2015-19. Seeks long-term secular growth trends
Janus Henderson Global Equity has been renamed a couple of times in recent years – from Henderson Global Innovation in 2012 and Henderson Global Growth in 2017. In September 2018 the smaller and poorer-performing Janus Henderson World Select fund merged into it on the basis of the funds’ similarities in terms of key investment objectives and policies. At the end of 2018 the enlarged fund had £625 million invested.
It continues to be managed by head of global equities Ian Warmerdam, who has been running the strategy since 2009, and Ronan Kelleher, who was appointed co-manager in 2016.
They invest principally in a concentrated portfolio of global securities with a bias to companies that have developed strong franchises and competitive advantages. These typically operate in markets the managers believe offer sustainably high levels of growth.
The managers are wary of trying to second-guess the economy. Warmerdam points to 2018 as being another year when investors were reminded just how challenging it can be to predict macroeconomic and political events or the direction of market sentiment. Trade disputes, Brexit and surprising election outcomes made predicting changes and their impact on financial markets “as tough as ever”, he says.
The managers prefer to focus instead on finding companies benefiting from the more predictable societal and demographic trends shaping markets. These are often underappreciated by the stockmarket.
The trends they like include the transformational effect of the internet; the need for greater healthcare innovation, given the ageing global demographic; the ongoing shift from cash usage towards paperless payments; the drive for greater energy efficiency across a wide range of industries; and the growth of the emerging market consumer.
Narrative and ratings content all as of 01 January 2019.See all Money Observer rated funds
|Microsoft Corp||4.38 %|
|American Express Co||4.02 %|
|Unilever NV||3.98 %|
|Alphabet Inc Class C||3.79 %|
|Housing Development Finance Corp Ltd||3.37 %|
|Icon PLC||3.13 %|
|Apple Inc||3.12 %|
|Berkshire Hathaway Inc B||3.07 %|
|Mastercard Inc A||2.97 %|
|American Tower Corp||2.93 %|
|United States||68.21 %|
|United Kingdom||11.40 %|
|Financial Services||21.63 %|
|Communication Services||19.51 %|
|Consumer Cyclical||11.72 %|
|Consumer Defensive||11.31 %|
Ronan Kelleher is a Portfolio Manager on the UK-based Global Equities Team at Janus Henderson Investors. He was appointed co-manager of a UK-domiciled global equities portfolio in 2016 after serving as the co-manager of its offshore counterpart since 2015. Ronan joined Henderson in 2011, initially working as a portfolio manager assistant in the Edinburgh office before becoming an investment analyst in 2012 and an associate portfolio manager in 2015. Prior to Henderson, he worked at SIG in Dublin, Ireland, as an operations associate. Ronan received a BSc degree (Hons) in finance from University College Cork in Ireland and an MSc in finance and investment from the University of Edinburgh. He holds the Chartered Financial Analyst designation.
Ian Warmerdam is Head of Global Equities at Janus Henderson Investors and has been a director with the firm since 2007. He also serves as lead Portfolio Manager on the Global Equities strategy, a position he has held since its inception in 2010. Prior to this, Ian co-managed the Edinburgh-based Global Technology Team. Before joining Henderson in 2001, he worked at both Scottish Widows and Scottish Life, where he began his career as a US equity analyst. Ian earned a BSc degree in technology and business studies from the University of Strathclyde and an MSc in investment analysis from the University of Stirling. He is an associate member of the Society of Investment Professionals (ASIP).
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