Janus Capital launches absolute return fund

Janus Capital International has launched the Janus Absolute Return Income Fund.

It is available to investors of Austria, Belgium, France, Germany, Italy, The Netherlands, Spain, Sweden and the UK.

The Janus Absolute Return Income Fund will be run by Kumar Palghat and the Janus global macro fixed income team.

The strategy seeks to generate positive absolute returns over a full market cycle by incorporating high quality and high conviction investments in the portfolio.

The launch of this fund from the Janus Global Macro Fixed Income team follows the acquisition of Kapstream Capital, an Australian-based unconstrained fixed-income manager with $7.2bn (€6.3bn) in assets, at end December 2015.

As part of the deal, Palghat, co-founder of Kapstream and former head of Pimco’s Asia Pacific portfolio management, joined Janus and became a co-portfolio manager of the Global Unconstrained Bond Fund, managed by Bill Gross.

Palghat, strategy leader and portfolio manager, said: “The Janus Absolute Return Income Fund offers investors a highly differentiated approach to traditional fixed income investing. It aims to avoid the limitations of a duration-weighted benchmark and narrow investment guidelines, instead seeking investments from across global fixed income markets.

“The portfolio will combine a core of investment grade sovereign, corporate and securitised bonds, as well as an overlay of structural opportunities, while taking advantage of long-term mis-pricings.”

Augie Cheh, president of Janus Capital International, added: “Launched in response to client demand, the Janus Absolute Return Income Fund marks another important milestone in our commitment to expanding our fixed income offering for our clients.

“The new fund aims to provide positive absolute returns with low volatility by investing with an unconstrained approach across the fixed income universe.”

Janus Capital group’s assets reached $191.3bn (€167.9bn) at end March 2016.

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