| Change Details | |
|---|---|
| Title | Janus Henderson Multi-Manager Funds |
| Type | Other events |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 31 March 2025 |
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | Janus Henderson Fund Management UK Limited |
| Fund Names | Janus Henderson Multi-Manager Active Janus Henderson Multi-Manager Distribution Janus Henderson Multi-Manager Diversified Janus Henderson Multi-Manager Global Select Janus Henderson Multi-Manager Income & Growth Janus Henderson Multi-Manager Managed |
| Type of change | Investment objective & policy changes |
| Date change effective from | 31/03/2025 |
| Is the event subject to shareholder approval? | No |
| 2. Investment objectives | |
| Janus Henderson Multi-Manager Active | |
| Current | New |
| To provide capital growth over the long term. Performance target: To outperform the IA Flexible Investment sector average, after the deduction of charges, over any 5-year period. The fund is actively managed with reference to the IA Flexible Investment sector average, which is based on a peer group of broadly similar funds, as this forms the basis of the fund’s performance target. The Investment Manager has complete discretion to choose investments for the fund and is not constrained by a benchmark. |
To provide capital growth over the long term. Performance target: to outperform the “Composite Benchmark” as set out under ‘Index Performance Target’ below, which consists of: • 20% FTSE All Share Index, • 60% MSCI™ All Country World Index ex UK, • 2.5% Bloomberg Barclays Sterling Aggregate Total Return GBP Index, • 7.5% Bloomberg Barclays Global Aggregate Bond Index (GBP Hedged), and • 10% in the Sterling Overnight Index Average (“SONIA”), after the deduction of charges, over any 5-year period. The fund is actively managed with reference to the Composite Benchmark above, which forms the basis of the fund’s performance target. The Investment Manager has complete discretion to choose investments for the fund and is not constrained by a benchmark. The Investment Manager is given a significant degree of discretion over asset allocation and up to 100% of the fund’s exposure can be in equites. There are no minimum exposure requirements for: • Equities; • Fixed income; • Cash; or • Currency. |
| Janus Henderson Multi-Manager Distribution | |
| Current | New |
| To provide a sustainable level of income with the potential for capital growth over the long term. Performance target: To outperform the IA Mixed Investment 20–60% Shares sector average, after the deduction of charges, over any 5 year period. The fund is actively managed with reference to the IA Mixed Investment 20–60% Shares sector average, which is based on a peer group of broadly similar funds, as this forms the basis of the fund’s performance target and limits the level of exposure the fund may have to company shares. The investment manager has a high degree of freedom to choose individual investments for the fund and to vary allocations between asset types within the constraints of the sector |
To provide a sustainable level of income with the potential for capital growth over the long term. Performance target: to outperform the “Composite Benchmark” as set out under the ‘Index Performance Target’ below, which consists of: • 12.5% FTSE All Share index, • 37.5% MSCI All Country World Index ex UK • 10% Bloomberg Barclays Sterling Aggregate Total Return GBP Index • 30% Bloomberg Barclays Global Aggregate Bond Index (GBP Hedged) • 10% in the Sterling Overnight Index Average(“SONIA”) after the deduction of charges, over any 5 year period. The fund is actively managed with reference to the Composite Benchmark which forms the basis of the fund’s performance target. The Investment Manager has a high degree of freedom to choose individual investments for the fund. However, in normal market conditions: • Equities: between 20% and 60% of the Fund’s exposure will be to equities (which includes convertible securities); • Fixed Income: at least 30% of the fund’s exposure will be to fixed income securities (for example, corporate and government bonds) and/or cash investments (including current account cash, short-term fixed income investments or certificates of deposit); and • Currency: at least 60% of the fund’s Net Asset Value will be invested in securities denominated in established market currencies (US Dollar, Sterling and Euro). 30% of the fund’s Net Asset Value must be invested in securities denominated in Sterling. This 30% Sterling requirement includes any securities that have been hedged back into Sterling. |
| Janus Henderson Multi-Manager Diversified | |
| Current | New |
| To provide a return, from a combination of capital growth and income over the long term. Performance target: To outperform the IA Mixed Investment 0-35% Shares sector average, after the deduction of charges, over any 5 year period. The fund is actively managed with reference to the IA Mixed Investment 0-35% Shares Sector average, which forms the basis of the fund’s performance target and limits the level of exposure the fund may have to company shares. The Investment Manager has a high degree of freedom to choose individual investments for the fund. |
To provide a return, from a combination of capital growth and income over the long term. Performance target: To outperform the “Composite Benchmark” as set out under ‘Index Performance Target’ below, which consists of: • 7.5% FTSE All Share Index. • 22.5% MSCI All Country World Index ex UK, • 15% Bloomberg Barclays Sterling Aggregate Total Return GBP Index, • 45% Bloomberg Barclays Global Aggregate Bond Index (GBP Hedged), • 10% in the Sterling Overnight Index Average (“SONIA”) after the deduction of charges, over any 5 year period. The fund is actively managed with reference to the Composite Benchmark above which forms the basis of the fund's performance target. The Investment Manager has a high degree of freedom to choose individual investments for the fund. However, in normal market conditions: • Equities: up to 35% of the Fund’s exposure will be to equities (which includes convertible securities), and there is no minimum requirement on the fund to invest in equities; • Fixed Income: at least 45% of the fund’s exposure will be to investment grade fixed income securities (for example, corporate and government bonds) and/or cash investments (including current account cash, short-term fixed income investments or certificates of deposit); and • Currency: at least 80% of the fund’s Net Asset Value will be invested in securities denominated in established market currencies (US Dollar, Sterling and Euro). 40% of the fund’s Net Asset Value must be invested in securities denominated in in Sterling. This 40% Sterling requirement includes any securities that have been hedged back into Sterling. |
| Janus Henderson Multi-Manager Global Select | |
| Current | New |
| To provide capital growth over the long term. Performance target: To outperform the IA Global sector average, after the deduction of charges, over any 5 year period. The fund invests in Collective Investment Schemes (other funds including those managed by Janus Henderson and Exchange Traded Funds) to provide diversified global exposure to a range of assets including shares (equities) of companies, bonds issued by companies and governments, and to a lesser extent, alternative assets such as property, commodities, private equity and hedge funds. The fund is actively managed with reference to the IA Global sector average, which is based on a peer group of broadly similar funds, as this forms the basis of the fund's performance target. The investment manager has complete discretion to choose investments for the fund and is not constrained by a benchmark. |
To provide capital growth over the long term. Performance target: To outperform the MSCI All Country World Index, after the deduction of charges, over any 5 year period. The fund invests in Collective Investment Schemes (other funds including those managed by Janus Henderson and Exchange Traded Funds) to provide diversified global exposure to a range of assets including shares (equities) of companies, bonds issued by companies and governments, and to a lesser extent, alternative assets such as property, commodities, private equity and hedge funds. At least 80% of the fund’s exposure will be invested in global equities. The fund is actively managed with reference to the MSCI All Country World Index, as this forms the basis of the fund's performance target. The investment manager has complete discretion to choose investments for the fund and is not constrained by a Benchmark. |
| Janus Henderson Multi-Manager Income & Growth | |
| Current | New |
| To provide capital growth, with the potential for some income over the long term. Performance target: To outperform the IA Mixed Investment 20–60% Shares sector average, after the deduction of charges, over any 5 year period. The Fund is actively managed with reference to the IA Mixed Investment 20–60% Shares sector average, which is based on a peer group of broadly similar funds, as this forms the basis of the Fund’s performance target and limits the level of exposure the Fund may have to company shares. The investment manager has a high degree of freedom to choose individual investments for the Fund and to vary allocations between asset types within the constraints of the sector. |
To provide capital growth, with the potential for some income over the long term. Performance target: to outperform the “Composite Benchmark” as set out under ‘Index Performance Target’ below, which consists of: •12.5% FTSE All Share index, •37.5% MSCI All Country World Index ex UK, •10% Bloomberg Barclays Sterling Aggregate Total Return GBP Index •30% Bloomberg Barclays Global Aggregate Bond Index (GBP Hedged) • 10% in the Sterling Overnight Index Average (“SONIA”) after the deduction of charges, over any 5 year period. The fund is actively managed with reference to the Composite Benchmark, which forms the basis of the fund’s performance target. The Investment Manager has a high degree of freedom to choose individual investments for the fund. However, in normal market conditions: Equities: between 20% and 60% of the fund’s exposure will be in equities (which includes convertible securities); • Fixed Income: at least 30% of the fund’s exposure will be in fixed income securities (for example, corporate and government bonds) and/or cash investments (including current account cash, short-term fixed income investments or certificates of deposit); and • Currency: at least 60% of the fund’s Net Asset Value will be invested in securities denominated in established market currencies (US Dollar, Sterling and Euro). 30% of the fund’s Net Asset Value must be in invested in securities denominated in Sterling. This 30% Sterling requirement includes any securities that have been hedged back into Sterling. |
| Janus Henderson Multi-Manager Managed | |
| Current | New |
| To provide capital growth over the long term. Performance target: To outperform the IA Mixed Investment 40-85% Shares Sector average, after the deduction of charges, over any 5 year period. The fund is actively managed with reference to the IA Mixed Investment 40–85% Shares sector average, which is based on a peer group of broadly similar funds, as this forms the basis of the fund’s performance target and limits the level of exposure the fund may have to company shares. The Investment Manager has a high degree of freedom to choose individual investments for the fund and to vary allocations between asset types within the constraints of the sector. |
To provide capital growth over the long term. Performance target: to outperform the “Composite Benchmark” as set out under ‘Index Performance Target’ below, which consists of: • 17.5% FTSE All-Share Index • 52.5% MSCI All Country World Index ex UK • 5% Bloomberg Barclays Sterling Aggregate Total Return GBP Index • 15% Bloomberg Barclays Global Aggregate Bond Index (GBP Hedged) • 10% in the Sterling Overnight Index Average (“SONIA”). after the deduction of charges, over any 5 year period. The fund is actively managed with reference to the Composite Benchmark which forms the basis of the fund’s performance target. The Investment Manager has a high degree of freedom to choose individual investments for the fund. However, in normal market conditions: • Equities: between 40% and 85% of the fund’s exposure will be to equities (which includes convertible securities); • Fixed Income: there will be no fund minimum exposure requirement in fixed income securities; and • Currency: at least 50% of the fund’s Net Asset Value will be invested in securities denominated in established market currencies (US Dollar, Sterling and Euro). 25% of the fund’s Net Asset Value must be invested in securities denominated in Sterling. This 25% Sterling requirement includes any securities that have been hedged back into Sterling. |