LongAALAug 2026
Anglo American plc
Anglo American became a new core holding and benefited during August from a weaker US dollar and stronger commodity prices. The fund's investment case is centred on value…
Janus Henderson Absolute Return Fund
Flexible equity long-short absolute-return strategy combining core long-term longs with tactical shorter-term ideas and extensive derivative use, with a predominantly UK opportunity set.$2.1B AUM15 published ideas
The fund aims to generate a positive absolute return regardless of market direction and blends core long-term positions with tactical ideas on both the long and short sides. The letter reports total net assets of GBP 1.57 billion; using the 31 August 2026 GBP/USD close of 1.3549 implies approximately USD 2.127 billion. ([Exchange Rates UK][1])
Ideas from Janus Henderson Absolute Return Fund
LongPSNAug 2026
Persimmon plc
Persimmon is an existing core position that the fund continued to build because it believes the company is well positioned within UK housebuilding. The managers favour its…
LongBARCAug 2026
Barclays PLC
The fund increased its Barclays position because it sees a disconnect between the share price and the bank's earnings and returns potential. The idea is a valuation-reversion…
LongBAYNAug 2026
Bayer AG
The fund added to Bayer because it believes the market continues to undervalue the quality of the company's underlying divisions. A second source of potential upside is progress…
LongSSEAug 2026
SSE plc
The fund increased SSE after higher bond yields drove share-price weakness. The managers view that weakness as an opportunity to gain exposure to the company's long-term…
LongAALAug 2026
Anglo American plc
Anglo American became a new core holding and benefited during August from a weaker US dollar and stronger commodity prices. The fund's investment case is centred on value…
LongPSNAug 2026
Persimmon plc
Persimmon is an existing core position that the fund continued to build because it believes the company is well positioned within UK housebuilding. The managers favour its…
LongBARCAug 2026
Barclays PLC
The fund increased its Barclays position because it sees a disconnect between the share price and the bank's earnings and returns potential. The idea is a valuation-reversion…
LongBAYNAug 2026
Bayer AG
The fund added to Bayer because it believes the market continues to undervalue the quality of the company's underlying divisions. A second source of potential upside is progress…
LongSSEAug 2026
SSE plc
The fund increased SSE after higher bond yields drove share-price weakness. The managers view that weakness as an opportunity to gain exposure to the company's long-term…
LongAAL.LAug 2026
Anglo American
The fund established Anglo American as a new core long holding. Although the shares benefited during August from a weaker US dollar and stronger commodity prices, the managers…
LongPSN.LAug 2026
Persimmon
The fund continued to build its core position in Persimmon because it believes the housebuilder is well positioned within the UK sector. The managers highlight its greater…
LongBARC.LAug 2026
Barclays
The fund increased its Barclays position during the month. The managers see a disconnect between the share price and the bank's earnings and returns potential, implying that the…
LongBAYN.DEAug 2026
Bayer
The fund added to Bayer because it believes the market continues to undervalue the quality of the company's underlying business divisions. A second part of the thesis is the…
LongSSE.LAug 2026
SSE
The fund increased its SSE position after weakness in the share price caused by higher bond yields. The managers viewed that decline as an attractive opportunity to gain exposure…
Letters covered
- Janus Henderson Absolute Return Fund Monthly Commentary August 2026August 31, 2026
- Absolute Return Fund Monthly CommentaryAugust 31, 2026
- Absolute Return Fund Monthly CommentaryAugust 31, 2026
Source PDFs are not republished here; only extracted ideas and quotes.