Janus Henderson Horizon Global Property Equities Fund A2 Acc USD

駿利亨德森遠見環球地產股票基金 A2類 Acc 美元

LU0209137388

Risk Rating: Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Non-dealing Hours

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD25,000.00Min. Subscription

1.20%

HKD5,000.00Min. Subscription

HKD / JPY / EUR / GBP / USD

HKD25,000.00Min. Subscription

HKD25,000.00

HKD25,000.00

Daily

16:00

2019-09-30

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.91%
3 mth
+1.54%
6 mth
+7.32%
1 yr
+13.34%
3 yr
+26.07%
5 yr
+42.52%

Analytical Figures (3 years)

Annualized Return
+8.03%
Annualized Volatility
+10.50%
Sharpe Ratio
+0.58

Fund Information

Fund Houses
Janus Henderson Horizon Fund
Launch Date
2005-01-02
Fund Manager
Guy Barnard
Tim Gibson
Manager Start Date
2015-01-03
2015-01-03
Geographical Focus
Global
Asset Class/ Sector
Equity - Traditional sectors
Risk Rating
Risk Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Fund AUM(As of 2019-08-30)
USD 686,292,115.8
Management Fee
1.20%
Latest Dividend
USD 0.190000 (2013-09-30)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD25,000.00Min. Subscription

1.20%

HKD5,000.00Min. Subscription

HKD / JPY / EUR / GBP / USD

HKD25,000.00Min. Subscription

HKD25,000.00

HKD25,000.00

Daily

16:00

2019-09-30

Dividend Records

Dividend DateDividend Records (USD)
2013-09-300.190000

Investment Objective

The investment objective of the Sub-Fund is to seek long-term capital appreciation through investment in the quoted equity securities of companies or Real Estate Investment Trusts (or their equivalents) listed or traded on a regulated market.

Nature and Extent of Risks

Investment involves risks. Please refer to the Prospectus and Hong Kong Covering Document for details including the risk factors.
1. Equity and equity-related securities risk
The value of equity and equity-related securities may be affected by various economic, political, market and issuer-specific factors. As a result, the value of such securities may be volatile and decline in value over short or even extended periods of time as well as rise. A fall in the value of equity and equity related securities may adversely affect the net asset value of the Sub-Fund.
2. Risks relating to securities lending
Investors should note that if the borrower of securities lent by the Sub-Fund becomes insolvent or refuses to honour its obligations to return the relevant securities, the Sub-Fund would experience delays in recovering its securities and may possibly incur a capital loss which may adversely impact investors. The collateral received may realise at a value less than the value of the securities lent out, whether due to inaccurate pricing, adverse market movements, a deterioration in the credit rating of the issuers of the collateral, or the illiquidity of the market in which the collateral is traded. Further, delays in the return of securities on loan may restrict the ability of the Sub-Fund to meet delivery obligations under security sales or payment obligations arising from realisation requests.
3. Currency risk
Assets of a Sub-Fund may be denominated in a currency other than the base currency (i.e. US Dollar) of the Sub-Fund. Changes in the exchange rate between the base currency and the currency of the asset may affect the value of the Sub-Fund’s assets as expressed in the base currency. The exchange rate may also be affected by any changes in exchange control regulations, tax laws, economic or monetary policies and other applicable laws and regulations in Europe. Adverse fluctuations in currency exchange rates can result in a decrease in return and in a loss of capital which may have an adverse impact on the Sub-Fund.
4. Derivatives risk
The use of FDIs can involve a higher level of risk, in adverse situations, the Sub-Fund’s use of FDIs may become ineffective in hedging and/or EPM and the Sub-Fund may suffer significant losses. The use of FDIs also exposes the Sub-Fund to associated risks including counterparty risk, leverage risk, liquidity risk, volatility risk and valuation risk.
5. Risk relating to the European Sovereign Debt Crisis
The current Eurozone crisis continues to raise uncertainty with little or no clarity on an enduring solution. Potential scenarios could include, among others, the downgrading of the credit rating of a European country, the default or bankruptcy of one or more sovereigns within the Eurozone, or the departure of some, or all, relevant EU Member States from the Eurozone. These may lead to the partial or full break-up of the Eurozone, with the result that the Euro may no longer be a valid trading currency. These uncertainties may cause increased volatility, liquidity, price and foreign exchange risks associated with investments in Europe and may adversely impact the performance and value of the Sub-Fund.
6. PIIGS (Portugal, Italy, Ireland, Greece and Spain) country risk
The Sub-Fund may invest in companies in PIIGS that may carry more risk in light of their current fiscal conditions and concerns of the sovereign risk. These uncertainties may cause increased amount of volatility, liquidity, price and foreign exchange risk associated with investments in the PIIGS countries and within the European region. The performance of the Sub-Fund could deteriorate significantly should there be any adverse credit events (e.g. downgrade of the sovereign credit rating of one of the PIIGS countries).
7. Over-the-counter (“OTC”) market risk
Investment in OTC markets is speculative, relatively illiquid and hence subject to high volatility. OTC investment’s valuation may be difficult to obtain as reliable information of the issuers and the risks associated to the issuer’s business is not publicly available. OTC derivatives have the risk of incorrectly valuing or pricing and they may not fully correlate with the underlying assets. Inappropriate valuations may have an adverse impact on the Sub-Fund. Investment in OTC markets carries the risk that a counterparty may default on its obligations which could result in the decline of the value of such investment and the Sub-Fund may incur significant losses.
8. Performance fee risk
Performance fees may encourage the IM to make riskier investment decisions than in the absence of performance-based incentive systems. The increase in NAV which is used as a basis for the calculation of performance fees, may comprise of both realised gains and unrealised gains as at the end of the calculation period, and as a result, performance fees may be paid on unrealised gains which may subsequently never be realised by the Sub-Fund.
The Sub-Fund does not apply any equalisation in the calculation of performance fee, therefore there may be circumstances where an investor may either be advantaged or disadvantaged as a result of the performance fee calculation methodology. Specifically, in the event of the Sub-Fund’s outperformance, an investor may be subject to a performance fee regardless of whether a loss in investment capital has been suffered by the investor.
9. Market risk
The value of the investments in the Sub-Fund may go up or down due to changing economic, political, regulatory, social development or market conditions that impact the share price of the companies that the Sub-Fund invests in. A fall in the value of the Sub-Fund’s investment may cause a fall in the net asset value of the Sub-Fund.
10. Concentration risk
The Sub-Fund will be more susceptible to and may be adversely affected by any single economic market, political or regulatory occurrence affecting the global property sector and its performance will be more volatile than a sub-fund that does not concentrate its investments.
11. Liquidity risk
In certain market conditions, investments held by the Sub-Fund may not be as liquid as they would be in normal circumstances. A reasonable price may be harder to attain in such conditions and there is a risk that the price at which the investment is valued may not be realisable in the event of sale. The Sub-Fund may therefore be unable to readily sell such investment at a favourable time or price and this may adversely affect the net asset value of the Sub-Fund.
12. Property securities related risk
There are special risks associated with investment in securities of companies engaged in property markets. These include the cyclical nature of property values, increases in property taxes, changes in zoning laws, regulatory limits on rents, environmental risks, depreciation in the value of buildings over time, and increases in interest rates.
13. Hedging risk
The use of hedging instruments involves certain special risks including dependence on the IM’s ability to accurately predict price movements of derivative instruments and the related investments being hedged, imperfect correlation between the hedging instruments and the investment assets being hedged. There is no guarantee that hedging techniques will fully and effectively achieve their desired result. Whilst such techniques can improve the return of the Sub-Fund, their use also increases the costs and the risk of losses to the Sub-Fund. This may have adverse impact on the Sub-Fund and its investors.

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