Latest news with #JanusHenderson
Daily Mail
3 days ago
- Business
- Daily Mail
CITY OF LONDON INVESTMENT TRUST: On a roll for 59 years and counting
Like the UK stock market, investment trust City of London is on something of a roll, much to the delight of its shareholders. Despite its inherent investment conservatism, the £2.5 billion fund continues to outperform its benchmark, the FTSE All-Share Index. Over the last year, it has delivered a total return, comprising a mix of income and share price gain, of 22.4 per cent, comfortably beating the 15.3 per cent return generated by the FTSE All-Share Index. It has also beaten its benchmark over the past three and five years. The trust's focus on income from a portfolio of UK shares makes it a popular choice among retail investors. When the final quarterly dividend for the financial year just gone is paid at the end of next month, the FTSE 250-listed trust will have racked up 59 consecutive years of income increases. No other investment trust has such a long-standing record, although nine others have grown their income for at least half a century. In pounds and pence, the trust's income payments in the last financial year tot up to 21.3p a share, 3.4 per cent ahead of the previous year and equivalent to an annual dividend yield in excess of four per cent. To put these payments into context, the shares now stand at just below £5, although last week they briefly breached £5 for the first time in the trust's 134-year history. For the past 34 years, City of London – one of 11 from the Janus Henderson stable of investment trusts – has been managed by Job Curtis with David Smith jumping on board four years ago as his deputy. Understandably, Curtis is proud of the trust's record and the conservative slant of the 79-strong portfolio. This conservatism comes through in many ways. For a start, most of the holdings are cash generative businesses with a propensity to pay a growing dividend. Also, most – 80 per cent plus - are FTSE 100 listed companies with businesses that span the globe. Some 60 per cent of the revenues that the trust's holdings earn are overseas. Although the FTSE 100 surpassed 9,000 in recent days, Curtis believes there is more to come. He says: 'The UK stock market still provides excellent value compared to other global markets. In effect, like the trust, it provides investors with the opportunity to get exposure to some attractive global companies at a discount.' In the past year and a half, Curtis has increased the trust's holdings in UK-listed banks: HSBC, NatWest and Lloyds are all among the fund's top ten positions. It has proved a profitable decision, and he believes there are more gains and dividends up for grabs. 'A big change, prompted by government, is taking place in the regulation of UK banks,' he says. 'The emphasis is now less on whether the banks are sufficiently capitalised, and more on enabling them to increase their lending, fuel economic growth, improve profits and deliver dividend growth.' Other attractive features of this trust include low annual charges, totalling 0.37 per cent. To put this figure into perspective, the average for the UK equity income sector is 0.56 per cent. The fees (in percentage terms) will reduce when the trust grows to £3 billion. Also, the shares currently trade at a small premium to the underlying assets, unlike many rivals. Curtis says: 'The trust's board takes the view that investors value stability. This means shares will be bought back if they trade at a discount above 2 per cent.' The trust's stock market ticker is CTY and identification code 0199049.
Observer
6 days ago
- Business
- Observer
For investors, UK is now ‘an attractive place to be'
The chief executive of James Henderson — a British-American global asset management group headquartered in London — Ali Dibadj, has said international investors are 'starting to take notice' of investment opportunities in the UK, adding to the growing chorus of senior finance executives who are bullish about British assets. The company offers a range of financial products to individuals, intermediary advisors and institutional investors globally, under the trade name Janus Henderson — the groups holding company. 'There is an enormous opportunity, not just for investors to invest in the UK, but to open up the UK to investors around the world'. Dibadj said. 'The UK has a stable political backdrop and has solid foundations for growth — a UK consumer that is in real wage growth and has built up savings since Covid, businesses that have been conservative in their borrowings and banks that have re-built their balance sheets since the global financial crisis'. Dibadj, who joined Janus Henderson in 2022 from Alliance Bernstein, added that a likely lower interest rate environment in the UK and a stock market that trades at a 'significant valuation discount' to those elsewhere in the world were among other reasons to be optimistic. 'A stable political backdrop and a modestly growing economy at a very reasonable valuation is a solid place to be', said the 50-year-old. 'International investors are starting to take notice and there has been an uptick in inflows to UK equities from overseas'. UK-focused funds have posted considerable outflows following Brexit and several bouts of political upheaval, but the pace of withdrawals has slowed in recent months. Data from Calastone showed net outflows of £449m from UK equity funds in May were down to half the monthly average for the past three years. However, equity funds have only recorded one month of positive flows in the past four years. New York-based Dibadj is the latest high-profile investment executive to single out potential investment opportunities in the UK. In May, BlackRock CEO Larry Fink said that the world's largest asset manager had been increasing investment in 'undervalued' UK assets. Fink said the $11.6m asset manager had added to its UK positions 'across the board' and claimed some of the negativity shown towards British companies 'was probably not warranted'. 'I have more confidence in the UK economy today than I did a year ago', Fink said. The 72-year-old pointed to the growth agenda fostered by the UK government. He highlighted in particular that the Competition and Markets Authority has sped up its decision-making. 'I don't know what's changed it but it's a good change', Fink said. JPMorgan chief Jamie Dimon also recently backed the government's approach. He told Financial Times in April that 'there's much to like' about Labour's pro-growth agenda. Other investment leaders are pointing to renewed interest in European assets amidst uncertainty following the introduction of trade tariffs by US president Donald Trump. Growth minded: Dibadj praised the UK government for 'real conviction' in pushing through market reforms that aim to spur growth and investment, such as the recent Mansion House Accord. This saw several of the UK's largest pension providers commit to allocating at least 10 per cent of their defined contribution assets to private markets by 2030. At least half of those asset will go to investments in the UK. 'There is a growth-minded government that has shown it will take action, a catalyst to kick start investment,' said Dibadj. 'That, combined with the opportunity that existing valuations present, are what makes the UK such an attractive proposition moving forward'.
Bloomberg
6 days ago
- Business
- Bloomberg
Janus Launches ABS ETF as Investors Chase High Quality Debt
Janus Henderson Investors is launching a new exchange-traded fund that invests in asset-backed securities, as the money manager looks to take advantage of appetite for high-quality short-term debt. The Janus Henderson Asset-Backed Securities ETF (ticker JABS), which is launching Wednesday, will buy ABS with investment-grade ratings, according to a statement. The fund is intended to appeal to investors such as insurance companies, who often seek high-quality debt.
CNA
21-07-2025
- Business
- CNA
European shares softer as EU mulls US countermeasures; Big Tech in focus
SYDNEY/LONDON :European shares were softer on Monday as markets awaited developments in trade talks, as well as a European Central Bank policy meeting later this week, while U.S. futures were brighter ahead of some major tech earnings. The European Union is exploring a broader set of possible counter-measures against the United States as prospects for an acceptable trade agreement with Washington fade, according to EU diplomats. Investors had been hoping for some progress in trade talks ahead of U.S. President Donald Trump's August 1 tariff deadline, with U.S. Commerce Secretary Howard Lutnick still confident a deal could be reached with the EU. The pan-European benchmark STOXX 600 index was down 0.2 per cent as was the UK's blue-chip FTSE 100. The euro was 0.2 per cent higher at $1.1652. S&P 500 futures edged 0.2 per cent higher, while Nasdaq futures were up 0.3 per cent. U.S. indexes are already around record highs in anticipation of more solid quarterly earnings reports. But tariff uncertainty is also casting a shadow over markets, with Trump's August 1 deadline fast approaching. "Let's say that tariffs are pushed off again from August 1, which I think is the rosiest outcome at this point, then I don't think markets will spike another 10 per cent higher. I'm thinking more that we get a grind higher for the rest of the year," said Oliver Blackbourn, multi-asset portfolio manager at Janus Henderson. Markets, meanwhile, are gearing up for a host of big tech company results this week, including Google owner Alphabet, Tesla and IBM. "They are going to be key for sentiment because frankly there's not a lot else to drive things," said Michael Brown, senior research strategist at Pepperstone. "We saw the banks deliver decent results last week, so you'd certainly be looking for the big tech names to keep up with that to reinforce the bull case (for equities)," he said. Investors also expect upbeat news for defence groups RTX, Lockheed Martin and General Dynamics. Higher government spending around the globe has seen the S&P 500 aerospace and defence sector rise 30 per cent this year, while defence stocks in Europe have also hit record highs. MARKETS UNFAZED BY JAPANESE POLITICS The yen firmed on Monday as markets shrugged off the Japanese ruling coalition's defeat in upper house weekend elections. Japan's ruling coalition lost control of the upper house in an election on Sunday, further weakening Prime Minister Shigeru Ishiba's grip on power ahead of the tariff deadline. Ishiba vowed to stay on, which along with a market holiday, limited the reaction. The yen was 0.77 per cent firmer at 147.655 to the dollar and up 0.5 per cent against the euro. "The loss was within the range of expectations, and actually the outlook was even more pessimistic," said Nissay Research Institute chief economist Tsuyoshi Ueno. "In terms of negotiations with the U.S., it is easy to doubt whether a government with such a weak foundation is reliable as a negotiating partner," he added. "For the Bank of Japan, if there is political instability, it will be difficult to raise interest rates, and pressure on the yen will continue." The BOJ still has a bias to raise rates further, but markets imply little chance of a move until late October. Elsewhere, euro zone government bond yields eased ahead of euro zone PMI data and the ECB meeting later this week, at which it is expected to leave rates at 2 per cent following a string of cuts. The euro dipped 0.5 per cent last week, moving off a recent near-four-year top of $1.1830. The dollar index was 0.3 per cent lower at 98.11. U.S. Treasury yields fell, leaving the yield on the benchmark 10-year note down 5.5 basis points at 4.3757 per cent. Most Federal Reserve policymakers, including Chair Jerome Powell, have indicated leaving U.S. rates unchanged right now is warranted in order to gauge the inflationary impact of tariffs. Markets imply almost no chance of a move in July and place a chance of 61 per cent on a September cut and an 80 per cent chance for October. Powell's reticence on rates has drawn the ire of Trump who threatened to fire the Fed chief, before backing down. The spectre of a potential political appointee who would seek to ease policy sharply has investors on edge. In commodity markets, gold firmed 0.6 per cent to $3,368 an ounce, with all the recent action in platinum, which last week hit its highest since August 2014. Oil prices were caught between the prospect of increased supply from OPEC+ and the risk European Union sanctions against Russia over its war in Ukraine could curb its exports. Brent eased 0.27 per cent to $69.09 a barrel.
Business Wire
17-07-2025
- Business
- Business Wire
Janus Henderson Investors Announces Changes to ETF Line-Up
DENVER--(BUSINESS WIRE)--Janus Henderson Group plc (NYSE: JHG) today announced plans to close and liquidate the Janus Henderson U.S. Sustainable Equity ETF (SSPX) as a result of a standard review of the firm's exchange-traded product line-up. Janus Henderson regularly reviews its range of products to ensure that the firm's product offerings continue to best meet client expectations and needs. Subject to applicable law, SSPX will no longer accept creation orders after the close of business on October 9, 2025. Trading in the Fund will be halted before the market opens on October 10, 2025. Proceeds from the liquidation are currently planned to be distributed on or about October 16, 2025. About Janus Henderson Janus Henderson Group is a leading global active asset manager dedicated to helping clients define and achieve superior financial outcomes through differentiated insights, disciplined investments, and world-class service. As of March 31, 2025, Janus Henderson had approximately US$373 billion in assets under management, more than 2,000 employees, and offices in 25 cities worldwide. The firm helps millions of people globally invest in a brighter future together. Headquartered in London, Janus Henderson is listed on the NYSE. This press release is solely for the use of members of the media and should not be relied upon by personal investors, financial advisers or institutional investors. We may record telephone calls for our mutual protection, to improve customer service and for regulatory record keeping purposes. All opinions and estimates in this information are subject to change without notice. ETFs distributed by ALPS Distributors, Inc. ALPS is not affiliated with Janus Henderson or any of its subsidiaries. Janus Henderson is a trademark of Janus Henderson Group plc or one of its subsidiaries. © Janus Henderson Group plc.
