Fact sheet: Henderson Global Growth

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
GLOBAL GROWTH
Sector
UT Global
Fund type
Unit Trust
Primary aim
GROWTH
Why Money Observer Rates Henderson Global Growth

Rated Fund 2015-2017. Seeking out long-term secular growth trends

Previously known as Henderson Global Innovation, with director of technology Ian Warmerdam at the helm, this fund was renamed in 2012, gaining its present title and a more generalist mandate. In 2016, Warmerdam gained a co-manager, Ronan Kelleher.

The fund's aim now is to invest in a concentrated portfolio of global securities, with a bias to those companies where innovation drives competitive advantage, which the manager considers to be under-appreciated and which offer sustainably high levels of growth. He looks particularly for companies that demonstrate an ability to 'weather the storm'.

Warmerdam is wary of trying to second-guess what is happening in the economy and prefers to instead focus on using a bottom-up approach to find companies that are benefiting from under-appreciated secular growth and high barriers to entry at attractive valuations.

He continues to see compelling investment opportunities within trends including healthcare innovation, internet disruption, emerging markets growth, paperless payment and energy efficiency.

He says these trends may seem obvious, and predicting the growth of the internet is unlikely to win any prizes. However, he points out that sometimes the truth is right in front of us. These mundane long-term trends can compound significantly over time.

While the markets obsess about near-term 'Trump' or 'Brexit' trades, Warmerdam advocates putting the headlines, as sensational and exciting as they are, to one side and focusing on what may actually be predictable. He believes a well-diversified portfolio of these secular growth stocks should outperform over the longer term.

3 Year Performance
Fund Performance57.3%
Average of Rated Funds Group54.7%
Sector Performance34.2%
Fund information
Fund name
Janus Henderson Global Equity I Acc
Fund manager company
Henderson Global Investors Ltd
Fund type
Unit Trust
Fund managers
  • Ian Warmerdamsince 08/04/2009
  • Ronan Kellehersince 31/01/2016
Accolades
Fund objective
To achieve above average long term capital growth. The Fund will invest principally in a concentrated portfolio of global securities with a bias to those companies that have developed strong franchises and competitive advantages. These companies will typically operate in markets that the Manager believes will offer sustainably high levels of growth.
Benchmark
  • MSCI AC World
Investment style
Growth
Investment method
Shares
Quick stats
1 Year return
12.6%
1 Year rank in sector
26/248
Sector
UT Global
Yield
0.2%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.84%
Fund size
£508m (£453m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
107
Bid price
260.02
Offer price
260.14
Top in this sector
Fund name1 Year
Baillie Gifford PostivChng35.6%
Aubrey GblConviction31.5%
TM Lansd DMLO SRI Fed26.5%
Equitile Resilience26.4%
Baillie Gifford Gbl Discovery24.1%
...more in UT Global

Performance snapshot

Holdings snapshot

  • North America59.5%
    Continental Europe15.1%
    UK8.4%
    South Africa7.3%
    Asia7.2%
  • Information Technology33.8%
    Consumer Discretionary19.1%
    Consumer Staples13.3%
    Health Care9.7%
    Industrials9.6%
  • North American Equities59.5%
    European Equities15.1%
    UK Equities8.4%
    South African Equities7.3%
    Asia Pacific Equities7.2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-2.3%3%3.5%12.6%57.3%125.7%
Sector-4.8%-1.4%1%6.7%34.2%61.7%
Rank within sector17 / 27211 / 26839 / 26026 / 2488 / 2214 / 199
Quartile1st1st1st1st1st1st
Calendar performance
 YTD - 20182017201620152014
Fund0.1%19.9%23.8%10.5%14.5%
Sector-2.8%13.6%21%3.4%6.7%
Rank within sector21 / 27226 / 247101 / 23220 / 22014 / 207
Quartile1st1st2nd1st1st
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
2.9
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1.14
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
1.17
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
11.96
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
4.03
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
1.09
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.9
Price movement
52 week high269.73
52 week low228.92
Current bid price260.02
Current offer price260.14
Current mid price-
Region
1North America59.5%
2Continental Europe15.1%
3UK8.4%
4South Africa7.3%
5Asia7.2%
6Money Market2.5%
Industry sector
1Information Technology33.8%
2Consumer Discretionary19.1%
3Consumer Staples13.3%
4Health Care9.7%
5Industrials9.6%
6Financials8.9%
7Money Market2.5%
8Real Estate1.6%
9Materials1.5%
Asset type
1North American Equities59.5%
2European Equities15.1%
3UK Equities8.4%
4South African Equities7.3%
5Asia Pacific Equities7.2%
6Money Market2.5%
Individual holdings
1TIGER BRANDS4.1%
2APPLE INC3.7%
3CONTINENTAL AG3.7%
4MICROSOFT CORP3.7%
5HOUSING DEVELOPMENT FINANCE CORP3.5%
6HOUSING DEVELOPMENT FINANCE CORP3.5%
7AMERICAN EXPRESS CO3.4%
8COGNIZANT TECHNOLOGY SOLUTIONS CORP3.2%
9ALPHABET INC3%
Management
Fund manager group
Janus Henderson Investors
Fund manager company
Henderson Global Investors Ltd
Fund type
Unit Trust
Fund objective
To achieve above average long term capital growth. The Fund will invest principally in a concentrated portfolio of global securities with a bias to those companies that have developed strong franchises and competitive advantages. These companies will typically operate in markets that the Manager believes will offer sustainably high levels of growth.
Benchmark
  • MSCI AC World
Investment style
Growth
Investment method
Shares
Fund managers
NameSinceBiography
Ian Warmerdam08/04/2009Ian Warmerdam is Head of Global Equities at Janus Henderson Investors, a position he has held, as part of the Henderson team, since 2014. He also serves as a Fund Manager for global growth products and growth sleeves of larger global equity portfolios, including the International Opportunities strategy. Prior to joining Henderson in 2001, Ian worked at both Scottish Widows and Scottish Life where his career began as a U.S. equity analyst. Ian earned a BSc in technology and business studies from the University of Strathclyde and MSc in investment analysis from the University of Stirling. He is an associate member of the Society of Investment Professionals (ASIP) and has 21 years of financial industry experience.
Ronan Kelleher31/01/2016Ronan Kelleher is a Portfolio Manager on the UK-based global equities team at Janus Henderson Investors. He is also Portfolio Manager on the International Opportunities strategy. In January 2016, Ronan was appointed co-manager of an onshore global growth equities fund, having been co-manager of the offshore version since 2015. In addition to his portfolio management responsibilities, Ronan is a generalist Equities Analyst for the strategy, having previously spent a portion of his time as a sector specialist for the technology equities team. Ronan joined Henderson in 2011, initially working as a fund manager assistant before becoming an investment analyst in 2012 and an associate fund manager in 2015. Prior to Henderson, he worked at SIG in Dublin as an operations associate. Ronan holds an MSc in finance and investment from the University of Edinburgh and a BSc (Hons) in finance from University College Cork in Ireland. He holds the Chartered Financial Analyst designation, the Investment Management Certificate (IMC) and has 8 years of financial industry experience.
Compliance
IA Recognised, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom, Peru
Janus Henderson Global Equity Acc
Initial charge4.25%
Annual charge1.5%
Min single investment£1,000
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)2.09%
Total expense ratio (TER)2.42%
Bid price3036.01
Offer price3166.79
Mid price-
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codePR07
Janus Henderson Global Equity I Acc
Initial charge-
Annual charge0.75%
Min single investment£3,000,000
Min regular saving£10,000
Available in ISANo
Ongoing charge (OCF)0.84%
Total expense ratio (TER)0.85%
Bid price260.02
Offer price260.14
Mid price-
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0Z9U
Janus Henderson Global Equity Z Acc
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.42%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBX
Price updated01/01/1900
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0Z9V
Data provided by

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