PNDRY - Janus Henderson European Focus Fund Q1 2025 Commentary
2025-05-20 12:11:00 ET
Summary
- European Focus Fund returned 10.46% and the MSCI Europe NR Index returned 10.48%.
- Top individual contributors to relative performance included Rheinmetall, UniCredit, and Deutsche Bank. Detractors included Intercontinental Hotels, ASM International, and Publicis Groupe.
- European equities continue to trade close to record discounts compared with U.S. equities, and international investor positioning remains low, together providing a safety net in the current uncertain environment.
Performance - USD (%)
| Cumulative |
| Annualized |
| Returns |
| 1Q25 |
| YTD |
| 1 Yr |
| 3 Yr |
| 5 Yr |
| 10 Yr |
| Since Inception (08/31/01) |
| Class I Shares |
| 10.46 |
| 10.46 |
| 3.59 |
| 7.81 |
| 15.8 |
| 5.43 |
| 11.44 |
| Class T Shares |
| 10.43 |
| 10.43 |
| 3.44 |
| 7.62 |
| 15.61 |
| 5.24 |
| 11.28 |
| Class N Shares |
| 10.49 |
| 10.49 |
| 3.63 |
| 7.88 |
| 15.88 |
| 5.46 |
| 11.38 |
| Class A Shares @ NAV |
| 10.4 |
| 10.4 |
| 3.35 |
| 7.54 |
| 15.51 |
| 5.16 |
| 11.24 |
| Class A Shares @ MOP |
| 4.05 |
| 4.05 |
| -2.59 |
| 5.44 |
| 14.15 |
| 4.54 |
| 10.96 |
| MSCI Europe NR Index |
| 10.48 |
| 10.48 |
| 6.87 |
| 7.32 |
| 13.15 |
| 5.67 |
| 5.84 |