Janus Emerging Markets Fund (JMFTX)

Data as of 3/31/2014 unless otherwise noted

Fund Overview

Emerging Market Equities. Growth at a Reasonable Price (GARP)
  • Seeks excess returns on a sustainable basis and in a risk aware framework
  • Using our Growth-at-a-Reasonable Price (GARP) approach we seek to invest in companies with earnings growth potential and valuations not fully recognized by the market
  • Locally-based investment professionals in Asia and Europe are integrated with Janus' global sector teams based in Denver

Performance

Inception: Dec 28, 2010
1 Year
3 Year
5 Year
10 Year
Since Fund Inception
Class T Shares
1.12% -4.89% N/A N/A -4.22%
MSCI Emerging Markets Index -1.43% -2.86% 14.48% 10.11% -1.36%

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.


Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 2/1/15.


Returns greater than one year are annualized.


Morningstar Style Box™ (As of 3/31/2014)

Equity Style

Large Blend

Portfolio Analysis

Top Holdings

% of Fund

View All Holdings (PDF)

Taiwan Semiconductor Manufacturing Co., Ltd. (ADR) 4.67%
Samsung Electronics Co., Ltd. 3.32%
Samsonite International SA 2.22%
Hyundai Motor Co. 2.17%
Sberbank of Russia (ADR) 2.15%
Itau Unibanco Holding SA (ADR) 2.12%
Pacific Rubiales Energy Corp. 1.69%
Concentradora Fibra Hotelera Mexicana SA de CV 1.64%
Anhanguera Educacional Participacoes SA 1.60%
Shun Tak Holdings, Ltd. 1.58%
TOTAL 23.16%

Asset Allocation

% of Fund
Asset Allocation Chart
Non-US Common Stock 96.06%
Non-US Preferred Stock 1.34%
US Common Stock 0.68%
Equity Other 0.13%
Convertibles 0.16%
Cash & Equivalents 1.63%
Total 100.00%

Sector Allocation

% of Fund
Financials
30.70%
Consumer Discretionary
23.23%
Information Technology
17.67%
Industrials
7.27%
Energy
6.77%
Consumer Staples
5.94%
Materials
4.74%
Health Care
0.84%
Utilities
0.53%
Equity Other
0.52%
Non-US Industrials
0.16%
Cash & Equivalents
1.63%
Total
100.00%
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Fund update:

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Management

Wahid Chammas | Hiroshi Yoh

Wahid Chammas
Wahid Chammas

Joined Janus 2005
Tenure on fund: Since 2010

"Emerging markets investors often focus on short-term factors and macro trends. That gives us a chance to add value through stock selection."

Read More about Wahid Chammas

Hiroshi Yoh

Joined Janus 2011
Tenure on fund: Since 2012

"We believe Asian economies and related equity markets are poised for secular growth. Given the World nature of these markets, equity prices may not at all times fully reflect business fundamentals. As such, fundamental research is the foundation of our Asia investment strategy."

Read More about Hiroshi Yoh

Analysis Tools powered by Morningstar™

Morningstar

Overall Morningstar Rating™ (As of 3/31/2014)

2 of 5 stars

of 424

Diversified Emerging Mkts Funds

View detailed Morningstar ratings

Ratings are based on risk-adjusted returns. The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating™ metrics.


As of 3/31/2014

Fund Facts 

CUSIP 47103E494
Inception 12/28/2010
Total Net Assets (as of 03/31/2014) $ 31.4M
Total Number of Equity Issues 113
Total Number of Debt Issues 1
Weighted Average Market Capitalization ($ billion) $ 27.64
Portfolio Turnover Rate 68.88%
Annual Expense Ratios (as of fiscal year-end 09/30/2013)
Gross 1.70%
Net 1.39%
Alpha (3-Year-Fund) -1.35
Beta (3-Year-Fund) 1.09
R-Squared (3-Year-Fund) 93.92%
Sharpe Ratio (3-Year - Fund) -.22
Sharpe Ratio (3-Year - MSCI Emerging Markets Index) -.15
Standard Deviation (3-Year - Fund) 21.92
Standard Deviation (3-Year - MSCI Emerging Markets Index) 19.49

Please consider the charges, risks, expenses and investment objectives carefully before investing. Please see a prospectus, or if available, a summary prospectus containing this and other information. Read it carefully before you invest or send money.


Returns include reinvestment of dividends and capital gains.


The expense ratios shown reflect estimated annualized expenses that the Fund expects to incur during its initial fiscal year.


This fund may have significant exposure to emerging markets. In general, emerging market investments have historically been subject to significant gains and/or losses. As such, the Fund's returns and NAV may be subject to volatility.


A Fund's performance may be affected by risks that include those associated with nondiversification, non-investment grade debt securities, high-yield/high-risk securities, undervalued or overlooked companies, investments in specific industries or countries and potential conflicts of interest. Additional risks to a Fund may also include, but are not limited to, those associated with investing in foreign securities, emerging markets, initial public offerings, real estate investment trusts (REITs), derivatives, short sales, commodity-linked investments, and companies with relatively small market capitalizations. Each Fund has different risks. Please see a Janus prospectus for more information about risks, Fund holdings and other details.


Ratings and/or rankings may be based, in part, on the performance of a predecessor fund or share class and are calculated by Morningstar using a performance calculation methodology that differs from that used by Janus. Differences in the methodologies may lead to variances in calculating total performance returns, in some cases this variance may be significant, thereby potentially affecting the rating/ranking of the Fund[s]. The rating/rankings are displayed for informational purposes only and should not be relied upon when making investment decisions.


The Fund will normally invest at least 80% of its net assets, measured at the time of purchase, in the type of securities described by its name.


The portfolio holdings and characteristics presented, per Janus Policy, reflect the portfolio's equity exposure as a result of its investments, including its investments in swaps, but do not include any other derivative instruments the portfolio may have invested in during the period.


©2014 Morningstar, Inc. All Rights Reserved.


When an expense waiver is in effect, it may have a material effect on the total return or yield, and therefore the ranking and/or rating for the period.


For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of the funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Morningstar Rating™ may differ among share classes of a mutual fund as a result of different sales loads and/or expense structures. It may be based, in part, on the performance of a predecessor Fund.


Ratings and Rankings are for the share class shown only; other classes may have different performance characteristics.


The Morningstar Style BoxTM reveals a fund's investment strategy. For equity funds the vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend or growth).


A Fund's portfolio may differ significantly from the securities held in the index. The index is unmanaged and not available for direct investment; therefore its performance does not reflect the expenses associated with the active management of an actual portfolio.


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