This document provides a comprehensive review of the Janus Henderson Global Select Fund's activities and performance during the third quarter of 2025, alongside an analysis of the broader investment climate.
Navigating Volatility: Seizing Opportunities in a Dynamic Market
Fund's Third Quarter Performance Snapshot
During the third quarter of 2025, the Janus Henderson Global Select Fund recorded a return of 5.88%. In comparison, the MSCI All Country World Index SM, a key benchmark for global equities, achieved a return of 7.62% over the same period. This indicates the fund trailed its benchmark during this quarter.
Impact of Sectoral Choices on Fund Returns
A detailed examination of the fund's performance reveals that its investment decisions within the communication services sector had a negative impact on its relative performance against the benchmark. Conversely, the fund's stock selections in the healthcare sector proved beneficial, contributing positively to its overall relative returns for the quarter.
Strategic Approach Amidst Market Fluctuations
Looking ahead, the fund managers intend to leverage periods of market instability to identify and invest in companies where the potential for generating free cash flow is underestimated by the market. This proactive strategy aims to uncover value in volatile conditions.
Global Investment Landscape Overview
The global equity markets experienced a robust upturn in U.S. dollar terms during the quarter. This positive momentum was largely driven by a de-escalation of international trade tensions and encouraging indicators of economic resilience across numerous countries worldwide.
U.S. Market Dynamics and Federal Reserve Influence
The U.S. market, in particular, demonstrated strong performance. This was significantly bolstered by prevailing expectations that the Federal Reserve would implement reductions in interest rates, a prospect often viewed favorably by equity investors as it can lower borrowing costs for companies and stimulate economic activity.
