Janus turns to institutional Asia equity strategy
Janus Capital International, part of US asset manager Janus Capital, has launched the Janus Asia equity strategy for institutional investors outside the US.
The aim is long-term growth of capital by investing at least 80% of its assets in emerging and developed markets in Asia ex-Japan; it uses the MSCI All Country Asia ex-Japan Index as its benchmark.
It will hold 60 to 100 names, have a tracking error range of 3-7% to the benchmark and be managed by Singapore-based portfolio manager Hiroshi Yoh, who started with the firm in April.
Global sectors will generally be covered by the Denver-based global sector teams, while local or regional sectors will generally be covered by an expanded team of three in Singapore. Yoh also has two equity traders based in Singapore.
Janus declined to comment on the amount it hopes to attract or from which types of institutions, or on the capacity or targeted returns of the strategy. Nor did it outline what the strategy offers over other products in what is already a fiercely competitive space, nor whether it has replaced any of the Asia-based executives who have left the firm this year.
The new strategy is a reflection of Janus’s drive to extend its investment capabilities to key regions across the world, says Jonathan Coleman, co-CIO for equities at Janus Capital.
Yoh’s investment style will apply a bottom-up ‘growth at a reasonable price’ approach. He will also analyse each company from a macro perspective, taking into consideration any important themes or issues that may impact the investment environment in certain regions, countries or sectors.
Before joining Janus, Yoh was Asia-Pacific ex-Japan chief executive and chief investment officer at Tokio Marine Asset Management International in Singapore. Under his leadership, the firm scooped the AsianInvestor Investment Performance Award in the Asia ex-Japan equity category in both 2009 and 2010.
Janus has been researching and investing in emerging-market equities for nearly 20 years through global portfolios such as Janus Worldwide, Janus Overseas and Janus Global Research.