Morningstar

Janus Henderson Developed World Bond Fund Class N HFARX

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  • NAV / 1-Day Return $7.54  /  −0.13 %
  • Fund Size $430.7M
  • Adjusted Expense Ratio 0.570%
  • Net Expense Ratio 0.570%
  • Fee Level: Distribution Below Average
  • Share Class Type Institutional
  • Morningstar Category Global Bond-USD Hedged
  • Fixed-Income Style Box (Funds) Medium/Moderate
  • Minimum Initial Investment $1M
  • Investment Status Open
  • TTM Yield 3.59%
  • Average Effective Duration 5.73 yrs
NAV and 1-Day Return as of

Morningstar’s Analysis HFARX

Will HFARX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable HFARX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the HFARX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of HFARX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Manager changes and execution challenges warrant a more cautious view.

Analyst Giovanni Cafaro

Giovanni Cafaro

Analyst

Summary

Janus Henderson announced in July 2026 that Jenna Barnard, head of global bonds and long-standing comanager of the strategy, will retire effective Dec. 31, 2026. Her departure follows John Pattullo's retirement in March 2025, meaning both of the strategy's longest-tenured leaders have departed within a relatively short period. As part of the succession, John Lloyd became a named portfolio manager across the range in August 2026, while Nicholas Ware and Oliver Bardot remain in place and provide some continuity. The global bonds and multisector credit teams were integrated on Aug. 1, 2026, with Lloyd assuming leadership of the combined platform. The team retains access to Janus Henderson's broader fixed-income platform and credit research resources.

by Giovanni Cafaro
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Portfolio Holdings HFARX

More HFARX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 16.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Currency Contract - Usd

14.93 69M
Derivative

Currency Contract - Usd

14.50 68M
Derivative

Currency Contract - Usd

14.33 67M
Derivative

Janus Henderson Cash Liquidity Fund Llc Funds

7.39 34M
Cash and Equivalents

Currency Contract - Usd

5.55 26M
Derivative

Currency Contract - Usd

5.28 25M
Derivative

Currency Contract - Nzd

3.83 18M
Derivative

Currency Contract - Usd

3.26 15M
Derivative

Federal National Mortgage Association 5.5%

2.31 11M
Securitized

Germany (Federal Republic Of) 2.2%

2.07 10M
Government

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