Janus Henderson Enterprise will reopen to all new investors by Dec. 21, 2020. The strategy closed to most new investors in 2017 and to all new investors in June 2019 when assets were approaching $30 billion. Assets shrank to $21 billion after 2020’s first-quarter bear market, and it reopened to employer-sponsored retirement plans in April. Flows since then remain negative, but now open more broadly. The strategy's size is worth watching as rapid growth could inhibit the team from taking meaningful positions in some smaller-cap stocks. It maintains its Morningstar Analyst Rating of Silver on cheaper share classes and Bronze on more expensive ones.
Will JAENX outperform in future?
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The Process Pillar is our assessment of how sensible, clearly defined, and repeatable JAENX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the JAENX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of JAENX’s parent organization’s priorities and whether they’re in line with investors’ interests.