Janus Henderson Investors today (9 January) unveiled the launch of its first active fixed income ETF in Europe.
The Janus Henderson Tabula EUR AAA CLO UCITS ETF (JCL0) will be managed by Colin Fleury, head of secured credit, alongside Denis Struc and Ian Bettney, portfolio managers on the Secured Credit team.
The team has a long-standing track record in CLO investing and has worked together at the firm since 2010.
The fund will primarily invest in European AAA-rated CLOs, and can invest up to 30% in non-European AAA CLOs that are compliant with European securitised regulations.
Colin, Denis and Ian work closely with Janus Henderson’s US securitisation experts to evaluate non-European investment ideas. The portfolio management team has access to market-leading tools and systems enabling in-depth analysis of CLO collateral, aiming to identify relative value opportunities, and will draw upon the expertise of the securitised and loans specialists at the firm.
Colin Fleury, head of secured credit at Janus Henderson, said: “AAA CLOs are a compelling alternative to investment grade corporates, typically offering higher yields and more credit spread for a better-quality asset with lower sensitivity to interest rate volatility. They can significantly enhance clients’ potential to achieve higher levels of income in their fixed income or cash allocations.
As a global leader in CLOs, we believe our rigorous due diligence and portfolio construction process can provide competitive risk-adjusted returns relative to traditional fixed income asset classes”.
The firm has significant experience in securitised investing globally, with a specialised team of six portfolio managers, with an average of 27 years industry experience, and nine dedicated securitised analysts. Together, they manage assets totalling over $36bn, with CLOs representing the most substantial portion of the firm's securitised assets.
