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Janus Henderson European Selected Opportu Inclusive - Class A - Accumulation (GBP)

Sell:1,808.00p Buy:1,808.00p Change: 13.00p (0.72%)
Prices as at 7 August 2020
Sell:1,808.00p
Buy:1,808.00p
Change: 13.00p (0.72%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 7 August 2020
Sell:1,808.00p
Buy:1,808.00p
Change: 13.00p (0.72%)
Prices as at 7 August 2020
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund does not feature on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. This is not a recommendation to sell; however, if you are thinking of adding to your investments, we believe the Wealth Shortlist is a good place to start. View funds on the Wealth Shortlist »

John Bennett is highly experienced in managing European equities and he currently manages a range of European funds. Over his long tenure as a manager he has outperformed the broader European stock market. John Bennett is highly incentivised at Henderson and while we rate him as a quality fund manager, we currently have higher conviction in other funds in this sector.

View our full research note on the Henderson European Selected Opportunities Fund »

Our view on the sector

Europe has been blighted by political issues in recent years. And some European economies are struggling with high levels of debt and unemployment. But it's important to disconnect a region's economic prospects from its stock market prospects. Europe is home to lots of successful businesses that make money across the globe - from the US to high-growth areas like Asia and emerging markets. That means their prospects aren't heavily reliant on Europe's economy. Some investors have overlooked the region in recent years. But we think Europe is a great place to invest for the long term and there are plenty of high quality fund managers to choose from.

Performance Analysis

John Bennett began his career at GAM where he was responsible for both Continental European (excluding UK) and Pan European (including UK) funds. Performance during this time was broadly in line with the funds' respective benchmarks. The manager subsequently moved to Gartmore along with three team members and assumed responsibility for the European Selected Opportunities Fund (which later became the Henderson European Selected Opportunities Fund). Over the manager's tenure he has outperformed the wider European market, which our analysis suggests is due to a combination of sector allocation and some positive stock selection.

Investment Philosophy

Pay attention to the make-up of the benchmark so you know what you are competing against, but do not allow yourself to be driven by it.

Process and Portfolio Construction

The portfolio is built by considering a 'spine' of sectors and then finding appropriate stocks within those areas. Sector themes and a desire to invest in change both form inputs into the process. He favours companies able to increase prices without affecting demand for their goods and services; with strong franchises; robust cash flows; and where the Chief Executive Officer has a personal stake in the business.

Typically the portfolio holds 80 to 100 stocks and is almost entirely exposed to large European companies.

question mark Manager Track Record Based on HL Quantitative Research

This information is currently unavailable.

Fund Track Record

07/08/15 to 07/08/16 07/08/16 to 07/08/17 07/08/17 to 07/08/18 07/08/18 to 07/08/19 07/08/19 to 07/08/20
Annual return 4.50% 21.12% 2.14% 1.39% 2.81%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Henderson was founded in 1934, and in 1990 it acquired Touche Remnant. In March 1998 Henderson itself was acquired by AMP, the Australian financial services company, but was subsequently demerged as an independent company in 2003. Henderson Group plc has been a listed company on the London Stock Exchange since December 2003. In April 2009 Henderson acquired New Star and in 2011 it acquired Gartmore. These acquisitions significantly strengthened its retail fund business, providing greater depth of fund range and investment talent.

Information about the fund

Fund manager biography

manager photo
Manager Name: Tom O'Hara
Manager start date: 31 January 2020
Manager located in: TBC

Tom O'Hara is a Portfolio Manager at Janus Henderson Investors, a position he has held since 2020. He co-manages the Concentrated Pan Europe Equity, the Continental Europe Equity, Pan Europe Equity, and Concentrated Continental Europe Equity strategies. Before joining the firm as a research analyst in 2018, Tom was an equity research analyst specialising in metals and mining with Exane BNP Paribas from 2016. He held similar mining and steel sector positions with Redburn (Europe) Limited from 2013 and with Citigroup Global Markets from 2010. Before Citigroup, Tom was a metals analyst with Metal Bulletin Research from 2008. He began his career in 2006 in the treasury of Northern Rock plc. Tom received his BA degree (Hons) in economics from Newcastle University. He has 14 years of financial industry experience.

manager photo
Manager Name: John Bennett
Manager start date: 1 February 2010
Manager located in: London

John joined Henderson in 2011 as Director of European Equities. Prior to that, John was a Senior Investment Manager in the European Equity Team at Gartmore. John has a 21-year track record of managing Continental and Pan European Equities and joined Gartmore in 2010 from GAM where he spent 17 years. At GAM John managed the GAM Star Continental European Equity Fund and the GAM Star European Equity Fund Both funds were awarded a AAA rating by S&P and together received a total of 27 performance awards at the Lipper Fund Awards 2009. John qualified in 1986 as a Member of the Chartered Institute of Bankers in Scotland.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account