Important risk disclosure

Please click here and read carefully the summary of the key features and risks specific to this fund stated in the offering document prepared by the relevant fund house before making any investment decision.

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LU1897414303
Janus Henderson Horizon Biotechnology Fund

  • Equities
  • Global
  • USD Cash
  • Accumulating
Invest with
USD Cash
Payout type
Accumulating
Risk rating
6
About this fund
Description
The Fund aims to provide capital growth over the long term. The Fund invests at least 80% of its assets in shares (equities) and equity-related securities of companies, which are biotechnology or biotechnology-related, in any country.
Key information
Annual report
Key fact sheet
Prospectus
Factsheet
Our perspective
Why we think this fund is best-in-class
product
Product
Actively managed diversified biotechnology portfolio with 50-80 holdings across all size and stages, with a tilt towards smaller-sized developmental stage companies.
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people
People
Stable 3-man portfolio management team led by Andy Acker, an industry veteran with 27 years of experience. All three managers have specialist knowledge in biochemistry, which is beneficial for understanding the industry and making sense of new drug launches and pipelines. The team is further supported by a dedicated biotech analyst, and the broader Janus Henderson Healthcare team.
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performance
Performance
Robust track record in delivering outperformance relative to the NASDAQ Biotechnology TR Index, and the broader MSCI World Index. The Fund is highly volatile, as witnessed by its steep drawdown in May 2022. Nonetheless, the fund rebounded stronger and quicker relative to its index. Over a three year period (as of end September 2023), the fund has registered a higher up-capture ratio than down-capture ratio, delivering positive returns.
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process
Process
Balanced portfolio construction with diversified all-cap exposure to companies across the developmental, early commercial and profitable stages. Intensive fundamental analysis that goes beyond engaging with company management, and often involving interactions with physicians and industry experts. Robust risk management process that seeks to mitigate the downside with position sizing limited such that in the worst case scenario, estimated adverse impact from a particular event should not exceed 2% of the portfolio's performance.
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cost
Cost
Endowus offers retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access.
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selectionCriteria
How it fits in a portfolio
Biotech investing is highly influenced by binary events such as clinical trial success, FDA approvals, and merger and acquisition activities. This can introduce extreme volatility in stock prices. Investors who seek higher return potential from biotechnology investing and are comfortable with the elevated volatility that accompanies this asset class, may choose to consider the fund as a satellite holding within a globally diversified portfolio.
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Invest in this fund
Performance
Shows the total return of this accumulating fund, which includes dividends reinvested.
Total returns
All Time
179.13%
YTD
7.67%
1 month
4.92%
6 month
9.18%
1 year
-5.00%
3 year
71.68%
5 year
68.21%
As of Aug 2025
Distributions
This is an accumulating fund, so dividends are re-invested at the fund level.
Risk metrics
Max drawdown
-36.21%As of Aug 2025
Volatility
22.50%As of Aug 2025
Calendar returns
YearTotalJanFebMarAprMayJunJulAugSepOctNovDec
2025-5.5%-6.5%-6.8%4.4%-5.4%5.9%6.8%4.9%----
20246.1%3.8%5.6%-2.2%-4.4%4.3%3.2%7.6%1.3%-0.3%-0.3%-1.8%-9.6%
202323.3%2.1%-3.2%1.9%4.5%4.0%0.9%1.6%0.1%-3.2%-12.0%11.5%15.6%
2022-3.8%-18.8%-1.1%0.6%-9.6%-5.3%2.1%5.0%6.4%3.8%8.3%4.6%3.7%
2021-5.2%1.3%1.0%-4.5%1.8%-3.7%3.0%-4.6%9.2%-2.2%0.8%-8.5%2.3%
Top Exposures
Vertex Pharmaceuticals Inc6.86%
Verona Pharma PLC ADR5.98%
argenx SE ADR5.70%
Amgen Inc5.61%
Soleno Therapeutics Inc5.42%
Ascendis Pharma AS ADR4.87%
BridgeBio Pharma Inc4.74%
Akero Therapeutics Inc3.92%
AstraZeneca PLC ADR3.80%
Avidity Biosciences Inc Ordinary Shares3.09%
Revolution Medicines Inc Ordinary Shares2.98%
Mirum Pharmaceuticals Inc2.96%
Madrigal Pharmaceuticals Inc2.64%
Insmed Inc2.46%
89bio Inc Ordinary Shares2.21%
Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.
Fund fees
2.83%2.11% p.a.
Save 25%
Fund facts
ISIN
LU1897414303
Fund house
Janus Henderson
Fund size
US$623.3M
As of 31 Aug 2025
Fund inception date
10 Dec 2018
Fund class currency
USD
Fund share class
A2 USD
Oldest share inception date
10 Dec 2018
Pricing frequency
Daily

Warning statements

  • All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
  • Past performance is not indicative of future performance.
  • Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
  • If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

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