Global Equity Income Fund
4Q19 Global & International Equity
Global Equity Income Fund
A: HFQAX C: HFQCX I: HFQIX N: HFQRX S: HFQSX T: HFQTX
as of 12/31/19
Portfolio Construction Insight
Traditional Equity
High Equity Income Potential
Why Invest
,, Invests in global income-producing equities, with an international bias
,, Seeks to capitalize on the seasonality of dividends using a specialized regional rotation strategy
,, 100% equities with no leverage and dividends distributed quarterly
Portfolio Management
Ben Lofthouse, CFA Manager since 2014
Alex Crooke Manager since 2006
Job Curtis Manager since 2006
Fund Overview
Objective: Achieve a high level of current income and, as a secondary objective, steady growth of capital Morningstar Category: Foreign Large Value Assets: $4.8B Inception Date: 11/30/06
Sector Allocation (%)
Fund MSCI World IndexSM
Communication Services Financials Energy
Health Care Materials
Consumer Discretionary Information Technology
Utilities Consumer Staples
Real Estate Industrials
Cash & Equivalents
14.05 12.66 12.61 10.78 8.84 8.19 7.54 6.93 6.62 6.22 4.63 0.93
8.41 15.70 4.92 13.01 4.39 10.28 17.35 3.42 8.29 3.24 10.99
--
Calendar Year Returns (%)
Class I Shares
MSCI World IndexSM
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
6.74 -1.15 15.17 21.02 -1.61 -0.10 4.90 19.60 -15.67 21.37 11.76 -5.54 15.83 26.68 4.94 -0.87 7.51 22.40 -8.71 27.67
Expense Ratios (%) Gross Net
Class A
1.09 1.09
Class C
1.76 1.76
Class I
0.76 0.76
Class N
0.72 0.72
Class S
2.38 1.35
Class T
0.94 0.94
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 2/1/20.
Not all Funds and Share classes may be available. Please consult your financial advisor.
Since Inception
Performance (%)
4Q19
1 yr
3 yr
5 yr
10 yr
(11/30/06)
Class I Shares
8.84
21.37
6.97
5.11
6.38
4.44
Class T Shares
8.84
21.10
6.76 4.88
6.12
4.23
Class A Shares @ NAV
8.77 20.84
6.60 4.79
6.07
4.19
Class A Shares @ MOP
2.54
13.94
4.53 3.56
5.45
3.72
MSCI World IndexSM
8.56 27.67 12.57 8.74
9.47
5.91
MSCI World High Dividend Yield IndexSM
7.10
23.15 10.38
7.31
8.22
4.73
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. For the most recent month-end performance call 800.668.0434 or visit performance.
Maximum Offering Price (MOP) returns include the maximum sales charge of 5.75%. Net Asset Value (NAV) returns exclude this charge, which would have reduced returns.
Continued on back page.
Global Equity Income Fund (as of 12/31/19)
Fund Characteristics
Number of Holdings: Equity Issues Active Share Turnover (1 year trailing) Weighted Average Market Cap Distribution Frequency 30-Day SEC Yield Class I Shares (%)
72 92.33% 138.77% $90.03B Quarterly 3.63/3.63 (with/without waivers)
Top Countries (%)
United Kingdom United States Korea, Republic Of France Japan Spain Canada Switzerland Australia Taiwan, Province Of China
Fund 24.44 20.01
8.43 6.65 6.52 6.48 6.23 4.60 2.94 2.46
Index 5.72
63.11 -- 3.80 8.17 0.94 3.38 3.11 2.26 --
Market Capitalization Range
of Equity Holdings (%)
Fund
Over $100B
24.07
$50B to $100B
12.68
$10B to $50B
47.08
$5B to $10B
9.75
$1B to $5B
1.78
$500M to $1B
0.14
N/A
3.57
Index 41.67 16.87 34.59 5.83 0.83
-- 0.21
Risk Statistics (3 Year)
Alpha Beta R-squared (%) Standard Deviation Sharpe Ratio Statistics are for Class I Shares.
Top Holdings (%)
Samsung Electronics Co Ltd GlaxoSmithKline PLC Johnson & Johnson BHP Group PLC TOTAL SA British American Tobacco PLC Royal Dutch Shell PLC Taiwan Semiconductor Manufacturing Co Ltd (ADR) Repsol SA Amcor PLC Total
Fund -3.24 0.85 79.51 10.73 0.50
Fund 3.48 3.17 3.11 3.01 2.63 2.53 2.48
2.46 2.45 2.08 27.40
Index -- 1.00
100.00 11.29 0.97
For more information, please visit .
Index represents the MSCI World IndexSM.
Performance for Class A Shares, Class I Shares and Class T Shares that includes periods prior to 6/5/17 reflects the performance of one or more share classes of a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund's prospectus for further details.
Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.
Holdings are subject to change without notice.
There is no assurance the stated objective(s) will be met.
Equity country, regional, sector and industry weights based on MSCI and GICS classifications. Fixed income country, regional, sector and industry weights based on Bloomberg Barclays classifications.
Investing involves risk, including the possible loss of principal and fluctuation of value.
Foreign securities are subject to additional risks including currency fluctuations, political and economic uncertainty, increased volatility, lower liquidity and differing financial and information reporting standards, all of which are magnified in emerging markets.
Increased portfolio turnover may result in higher expenses and potentially higher net taxable gains or losses.
Index performance does not reflect the expenses of managing a portfolio as an index is unmanaged and not available for direct investment. MSCI World IndexSM reflects the equity market performance of global developed markets. MSCI World High Dividend Yield IndexSM reflects the performance of high
dividend yield securities from global developed markets. Alpha compares risk-adjusted performance relative to an index. Positive alpha means outperformance on a riskadjusted basis. Beta measures the volatility of a security or portfolio relative to an index. Less than one means lower volatility than the index; more than one means greater volatility. R-squared (R2) measures the relationship between portfolio and index performance on a scale of 0.00 (0%) to 1.00 (100%). A higher R2 indicates more of the portfolio's performance is affected by market movements and vice versa. Standard Deviation measures historical volatility. Higher standard deviation implies greater volatility. Sharpe Ratio measures risk-adjusted performance using excess returns versus the "risk-free" rate and the volatility of those returns. A higher ratio means better return per unit of risk. Active Share represents the portion of portfolio holdings that differ from an index. Turnover is a measure of portfolio trading activity. Higher turnover may indicate higher transaction costs and vice versa.
Please consider the charges, risks, expenses and investment objectives carefully before investing. For a prospectus or, if available, a summary prospectus containing this and other information, please call Janus Henderson at 800.668.0434 or download the file from info. Read it carefully before you invest or send money.
Janus Henderson is a trademark of Janus Henderson Group plc or one of its subsidiaries. ? Janus Henderson Group plc.
Janus Henderson Distributors
C-1219-28017 04-15-20
199-15-49957 01-20
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