Janus Henderson Multi-Sector Income Fund Class D (JMUDX)

Overview

The fund focuses on generating high income through investments in a diversified portfolio of U.S. and international debt securities. It aims to achieve its investment objective by carefully selecting securities that exhibit high income potential across various maturities. The fund's strategy includes investing in both investment grade and below investment grade (high-yield) securities, with a particular emphasis on the latter to enhance income opportunities. However, the investment in below investment grade securities is capped at 65% of the fund's net assets to manage risk. Notably, this cap may be exceeded temporarily under exceptional circumstances, such as receiving higher than expected allocations in new issues, indicating a flexible approach to investment opportunities and market conditions.

Products and Services

• Multi-Sector Debt Investments:

  This fund offers investors exposure to a wide array of debt securities, spanning both U.S. and international markets. The multi-sector approach allows for diversified risk and the potential for high income, sourced from government bonds, corporate bonds, and other debt instruments across various sectors.

• High Income Potential Securities:

  The core of the fund's strategy revolves around selecting debt securities that are believed to have a high potential for income. This includes a focused investment in below investment grade securities, commonly known as high-yield bonds, which offer higher interest rates to compensate for their higher risk of default compared to investment-grade bonds.

• Investment Grade and Below Investment Grade Balance:

  While aiming for high income, the fund maintains a balanced composition by limiting its exposure to below investment grade securities to 65% of its net assets. This limitation ensures a level of risk management while still targeting the higher yields offered by high-yield bonds. The fund’s strategy demonstrates a balance between seeking high returns and managing risk.

• Flexible Investment Strategy:

  The fund exhibits a degree of flexibility in its investment strategy, especially evident in situations where allocations in new issues can lead to temporarily exceeding the 65% cap on investments in below investment grade securities. This flexibility is indicative of an adaptive management approach, aiming to capitalize on unique market opportunities while adhering to the overall investment objective and risk parameters.